Cloud computing is an evolving paradigm with tremendous momentum. Performance is a major challenge in providing cloud services, and performance management is prerequisite to meet quality objectives in clouds. Although many researches have studied this issue, there is a lack of analysis on management dimensions, challenges and opportunities. As an attempt toward compensating the shortage, this work first gives a review on performance management dimensions in clouds. Moreover, a taxonomic scheme has devised to classify the recent literature, help to standardize the problem and highlight commonalities and deviations. Afterward, an autonomic and integrated performance management framework has been proposed. The proposed framework enables cloud providers to realize optimization schemes without major changes. Practicality and effectiveness of the proposed framework has been demonstrated by prototype implementation on top of the CloudSim. Experiments present promising results, in terms of the performance improvement and management. Finally, open issues, opportunities and suggestions have been presented.