Improving occupational safety and health (OSH) performance in the construction industry is crucial because it represents the excellence of the executed projects, and more importantly the protection of life for people who work in the field. One initiative for improving the performance of OSH in construction is through the application of risk management concepts. Effective risk management depends on the consensus and collaboration of all stakeholders, but such integration is hard to attain. This study seeks to investigate the level of shared understandings of perceived risk among construction stakeholders. Utilizing two case study scenario survey that represents the risk exposure or consequence due to crush of panel and vibration activity, data were collected from a sample of 12 representing construction professionals in Malaysia. Data analysis describes the variety of risk perceptions among stakeholders in construction. The immediate-type of risk was rated higher than those from expected scores, whereas delayed-effect risks such as ‘vibration’ in this study, were rated lower than those from expected scores. Findings from this study suggest that there is a need to have a strategic measure to engage stakeholders in the risk management process and should take account of people’s perceptions of risk