Every human activity involves risk in one form or the other and construction is no exception. This paper describes the development of a model to manage the risk on small construction projects. The model is based on the Analytic Hierarchy Process, which is basically subjective in nature. The paper also describes the results of analyses of the data from an amateur construction manager and a general contractor and construction manager. The results indicate that there is a difference in attitudes toward risk management between the two. In order to manage risk, amateur persons tend to rely on information gathering to reduce the systematic risk, while experienced persons tend to rely on diversification to reduce unsystematic risk.