The expectation for a performance review is that, well, there's some attempt to look at the actual performance and evaluate it. For example, imagine that the job at the public company would "evaluate" the performance every 12 months by solely counting the number of projects launched. So if you're doing great in a 18-month project, your score is 0 (since it's not launched yet), and if you've been part of launching 3 small projects, then your score is 3, no matter how irrelevant or poor quality the projects were.