We found that we don't need a single "Management Review Meeting". What we did find was that we already had several other meetings we conducted weekly or bi-monthly, or monthly that addressed all the issues of review and at the appropriate levels. We continuously do Management Review around here. My meetings include Project Status Meeting, Business Planning Meeting, Executive Meeting, Safety Meeting, and Steering Committee Meeting.
Sure, it is just easier to have one meeting once of twice a year, but our in our company we constantly look over everything in these other meetings as part of our normal business practices.