Previous cross-sectional functional magnetic resonance imaging studies have shown that performance monitoring functions continue to develop well into adolescence, associated with increased activation in brain regions important for cognitive control (prefrontal cortex, anterior cingulate cortex, and parietal cortex). To date, however, the development of performance monitoring has not yet been studied longitudinally, which leaves open the question whether changes can be detected within individuals over time. In the present study, human boys and girls, between ages 8 and 27 years, performed a child-friendly rule-switch task in the scanner on two occasions ϳ3.5 years apart. Change versus stability was examined using two methods: (1) repeated-measures analyses and (2) test-retest reliabilities of blood oxygenation level-dependent responses. Results showed that with increasing age, participants performed better on the task. The changes in neural activation associated with the processing of performance feedback were, however, more reliably correlated with changes in performance than with age. Test-retest reliability was at least fair to good for adults and adolescents, but poor to fair for the youngest age group. Substantially more variability was observed in the pattern and magnitude of children compared with adults, which may be interpreted as proxy for developmental change. Together, the results show that (1) change within individuals is variable, and more so for children than for adolescents and adults, and (2) performance is a better predictor for change in neural activation over time. These findings set the stage for studying developmental change in the perspective of multiple predictors, rather than solely by divisions based on age groups.