Organizations must continuously improve their performance in order to enable sustainable success on the market. They must cope with a steadily increasing complexity and dynamic. This makes it hard for them to keep an overview of their performance. Performance Measurement and Management Systems (PMM-Systems) can help them to keep track of their efficiency as well as effectiveness. Such systems enable companies to channel the efforts of their employees in the direction of business success. Furthermore, they can be used as an early warning system by including leading indicators. However, recent studies show, that besides all advantages such systems offer, they have only partly managed to realize the promoted advantages in practice and are unable to exploit their full potential. One of the main reasons for this are problems during the design and implementation process. This thesis introduces a participatory model for developing and implementing a customized PMM-System. Implementing such a system causes considerable change within an organization. The model uses insights from the area of change management. It includes several tools which assist the change process and enable organizations to involve their employees in the development process. Thereby, commitment towards PMM as well as the understanding of the system can be enhanced. The design of the PMM-System is mainly based on the Balanced Scorecard. However, it includes some elements of other frameworks. Thanks to an adequate mix of tools based on the importance of the four fields of coordination, the probability of a successful implementation is increased. The model offers a systematic way to design and implement a holistic PMM-System, which includes all management levels. It contains a closed loop system, which describes how the system is used and adopted over time. The proposed model is used to implement a comprehensive PMM-System in two corporate groups.