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A formal evaluation or assessment of something, typically a person's performance, value, or quality.
The manager conducted an annual appraisal of all employees to assess their performance.
The HR department scheduled a series of appraisals to evaluate the team's productivity.
Often used in professional settings to provide feedback and determine compensation or promotions.
An estimate of the value of property or assets, often for tax or insurance purposes.
The bank required a property appraisal before approving the mortgage loan.
The insurance company requested an appraisal of the damaged goods to determine the claim amount.
Typically performed by a professional appraiser.
The meaning of 'appraisal' can vary significantly depending on whether it is used in a business or financial context.
'Appraisal' is typically used in formal or professional settings and is not commonly used in casual conversation.
From Middle English 'appreisen,' from Old French 'apreiser,' meaning to estimate or value.
In business contexts, 'appraisal' often refers to performance reviews, while in finance, it refers to asset valuation.