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Recent research indicates that risk competence and perception can be improved through the learning environment. The project ’Riscki’ examined how risk perception and risk competence in young children between three and eight years of age can be observed and measured within the classroom and school context. An intensive package of risky-play activities was administered over a three month period to two classes (four- and six-year-olds) and two age-matched classes served as controls. Before and after the intervention period, quantitative and qualitative aspects of risk competence were evaluated in all children by: (1) a change detection paradigm; (2) teacher ratings; and (3) independent observer’s qualitative ratings. The results showed that risk perception and competence in young children can be improved through an intensive offer of risky-play activities at school. Moreover, the risk detection test and observational questionnaires are promising instruments to measure risk competence.