This study was designed to explore the relationship between team performance management and organizational performance, because performance in terms of team efficiency and profitability is fundamental to business sustainability. Team performance management is a top management responsibility through which the organization seeks to cultivate its timbers, tries to grow them, and to enhance organizational performance. Effective team performance management provides the mechanism for quality feedback for both management and employees and therefore provides critical information for individuals and teams to adjust their behaviors in the interest of organizational performance. Thus, effective team performance management seeks to minimize appraisal politics by institutionalizing equitable appraisal mechanism for evaluating performance and fostering a climate of open two-way communications and team development. The survey research design was adopted for the investigation. The sample of 185 provided necessary data for analysis and the result showed strong positive relationship between team performance management and organizational performance. This investigation was never exhaustive due to limitations of time and lack of current relevant literature, therefore, further study could examine the relationship between team performance management and the deteriorating performance in the road transportation sub-sector in Nigeria. It was recommended that management in privately owned enterprises should cultivate the culture of regular appraisals as an integral part of effective team performance management.