Justin,
There is no general industry standard for high work. General industry gets cited under the general duty clause. We use the construction fall protection standard as our basis.
For the raised edge to be considered a guard rail it must be at least 42 inches tall and capable of withstanding 200 lbs. of force in an outward or downward direction.
A warning line is probably the cheapest solution. However, if it is going to be a permanent fixture, spend some money on archored posts and heavy duty wire or rope to prevent drooping. Also you need to consider the cost of installing anchors on an already constructed roof. We looked at it ant the cost was 10-15k per anchor due to the roof penetration and additional supports needed.
My firm installed guardrails in areas where we thought employees would be working within 6' of the edge. The cost was approximately $45.00 per linear foot. We also painted a stripe around the 6' perimeter as a reminder.
MikeCJ