Multidisciplinary teams often undertake engineering projects beyond their original discipline involving different kinds of risks. Risk perception is an inherent and embedded part of the decision-making process, which depends on the personal background and instinctive attitudes or behaviors. Process safety and risk analysis training for engineers, and education for engineering students, provide valuable tools seeking safer workplaces; however, personnel’s risk perception is commonly neglected. This paper analyzes the risk perception and appetite of undergraduate engineering students in Colombia based on a survey strategy and a weighted-approach following a Factor Analysis. The survey considered financial, social, physical, and professional risks, and four main reasons for risk-taking or risk-avoiding actions. The Factor Analysis allows us to classify the students tendency as risk-averse o risk-prone, and propose didactic teaching planning using a modular toolbox for process safety education, based on skills identified for junior engineers in Colombian Oil & Gas Industry. A total of 465 engineering students from 12 Colombian universities completed the survey in 2016. The results suggest that risk perception depends on the location, possible risk training, and accessible information. The obtained factors allow describing the students’ overall risk profiles, which can serve as an input for refining the content and curriculum content of current engineering programs regarding process safety. Improving the training of risk management in the engineering curriculum will benefit upcoming multidisciplinary teams in high-risk industries.