This paper describes the stress recovery behaviour of an Fe-17Mn-5Si-10Cr-4Ni-1(V, C) (mass%) shape memory alloy used for prestressing of civil structures. The prestressing due to the shape memory effect was simulated by a series of tests with pre-straining of the material followed by heating and cooling back at constant strain. Different pre-strain and heating conditions were examined. Moreover, the response due to additional mechanical and thermal cyclic loading has been investigated. These results were used to predict the partial prestress loss in a structure due to variable loading during operation. Finally, a heating test at constant strain was performed after the cyclic loading to check the possibility of reactivating the prestress lost during an exceptionally high load.