Rating vs Band
What I understood from my project and past 8 years experience. Rating tells, how hard you have worked as per your role and how you have fulfilled yours goals as per speed Band tells, how much you contributed to your project in terms of revenue. Eg:- Critical resource of a project got A band due to his contribution to the project in terms of revenue. But he got lower rating as he did not fulfilled his goals as per goal in speed.
A rating or Individual Performance Factor (IPF) is essentially a weighted distribution of all the goals and attributes assigned to you for the financial year based on your performance against expectations . If you expand that across performance of your account , unit and the overall benchmarks for the company , you reach a certain IPF range cutoff (X.xx - Y.yy) that is the cut off for band ranges every year . This is dynamic and varies from account to account based on unit linked performance and budgeting , similar to your QVA .
Your rating is individual while your band is where it stands in terms of the organisational performance benchmarks cutoff for that year and is obviously a more complex process based on the bell curve.
Its very subjective topic a lot of factores, permutations and combinations involved in this.
And its depends on project to project and people as well.
