Periodic feedback in one on one meetings is a necessary precursor to any effective formal review. One of the bigger problems with most review forms is that they rest on a premise of a well rounded individual and focus on improving weaknesses instead of building on strengths. Marcus Buckingham wrote a great book, "First Break All The Rules," critiquing this approach.

   Problem with Performance Reviews
   http://gmj.gallup.com/content/529/The-Four-Keys-to-Great-Management.aspx

   First Break all the Rules summary
   http://gmj.gallup.com/content/1144/First-Break-All-Rules-Book-Center.aspx