Performance reviews are an ongoing mechanism between members and team leaders. If an organization has to function as an objective and outcome-based culture, the feedback routine around performance has to be effective and constant.
If you don't have performance reviews as a part of your organization, you should implement a procedure for it. It should be regular reviews both on a team basis and an individual basis.
Remember, performance reviews should be focused on recognition for good performance, or if performance is lacking, the review should focus on understanding, motivation, and finding solutions.