noun
a judgment or evaluation of the worth, quality, or importance of something
adjective
relating to the act of appraising or evaluating
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The company conducted a thorough performance appraisal for all employees.
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I just had my annual appraisal at work, and it went pretty well.
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I aced my performance appraisal - looks like I'm getting that raise!
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Her appraisal of the situation was spot-on, showing great insight and understanding.