This IPIECA-OGP Health Committee publication provides an approach to developing performance indicators for a fatigue risk management system (FRMS). Historically, the risk associated with fatigue was largely managed by limiting the number of hours worked. However, there is increasing understanding that hours-of-service limits by themselves may not achieve the objective of managing risk from fatigue. This, together with the restrictive impact on operations, has led industry and regulators to move away from using rules based solely on hours of work, and instead adopt a more comprehensive style of fatigue risk management using fatigue risk management systems (FRMS). This document contains proposals for possible performance indicators that could be used to monitor the effectiveness of an FRMS.