This paper aims to compare various Performance Management Systems (PMS) for business school in order to find the strengths of each standard as inputs to design new model of PMS. There are many critical aspects and gaps notified for new model to improve performance and even recognized that self evaluation performance management is not well developed in school toward a competitive education market. The exploratory study and comparative study methodology were used to develop a conceptual model based upon literature review. An exploratory study approach was used to investigate the way in which PMS actually evolve within business school institution, while comparative study was done to determine relationship among PMS based on literature review and secondary data. Based on information gathered about several standards applied for business school, hopefully, there will be a valuable opportunity to create new PMS model that could cover every weaknesses and strengths that each standard had, and the new model will manage business school performance more comprehensively as well.