Shot peening is a well known process applied to components in order to improve their fatigue resistance. In recent years, there has been an increasing interest in including the effects of the shot peening process in life assessment models since this would allow a reduction in conservatism compared to those in current application. Part 1 of this review dealt with the effects of the shot peening process (surface roughening, strain hardening and compressive residual stresses) and the resulting effect on component fatigue life. This part of the review considers how this effect on component fatigue life can be incorporated into life assessment modelling approaches with discussion of the relative merits of each approach. The paper concludes with a flow chart demonstrating a possible route for the inclusion of shot peening effects within industrial component life assessment frameworks.