Which of the following is a common tool for performance appraisal?

360-Degree Feedback is a widely recognized tool for performance appraisal because it incorporates a comprehensive evaluation from multiple sources. This typically includes feedback from an employee's supervisors, peers, subordinates, and sometimes even clients. The key benefit of this approach is that it provides a well-rounded view of an individual’s performance and behavior in the workplace, highlighting strengths and areas for improvement that might not be visible through traditional appraisal methods. By gathering insights from various perspectives, organizations can foster more robust development plans tailored to enhance employee performance and contribution to team dynamics.

In contrast, the other options do not serve the purpose of performance appraisal. A Project Schedule is primarily focused on planning and tracking project timelines and deliverables, while a Resource Allocation Plan deals with the distribution of resources across projects, ensuring efficient utilization. The Risk Management Framework is designed to identify, assess, and mitigate risks in projects or operations, rather than evaluate individual performance. Thus, while important in their respective contexts, these tools are not aimed at assessing employee performance directly.