The improvement in low cycle fatigue life created by shot peening ferritic heat resistant steel was investigated in components of varying geometries based on those found in conventional power station steam turbine blades. It was found that the shape of the component did not affect the efficacy of the shot peening process, which was found to be beneficial even under the high stress amplitude three point bend loads applied. Furthermore, by varying the shot peening process parameters and considering fatigue life it has been shown that the three surface effects of shot peening; roughening, strain hardening and the generation of a compressive residual stress field must be included in remnant life models as physically separate entities. The compressive residual stress field during plane bending low cycle fatigue has been experimentally determined using X-ray diffraction at varying life fractions and found to be retained in a direction parallel to that of loading and to only relax to 80% of its original magnitude in a direction orthogonal to loading. This result, which contributes to the retention of fatigue life improvement in low cycle fatigue conditions, has been discussed in light of the specific stress distribution applied to the components. The ultimate aim of the research is to apply these results in a life assessment methodology which can be used to justify a reduction in the length of scheduled plant overhauls. This will result in significant cost savings for the generating utility.