The purpose of this report is to synthesize the findings from eight-month investigation of fishery improvement projects (FIPs), for which the authors conducted 30 site visits and over 140 interviews globally. The goal of this investigation was to understand how FIPs are currently implemented around the world and characterize their progress, best practices, and lessons learned. Over the course of the research it became evident that the original FIP model has rapidly evolved and now manifests in a variety of forms, which the authors attempt to outline herein. However, this new understanding complicates the answers to some of the simplest questions: What is a FIP? What is the goal of a FIP? Which FIPs are best? In this report the authors summarize their understanding of how FIPs have evolved, how they are implemented differently today, and how these factors influence the potential explanations of their purpose. The authors also highlight a number of additional takeaways, including identifying key drivers of success, addressing common challenges and critiques, and reflecting on what may be on the horizon for the FIP model.