Risk Perception, the subjective judgement that individuals make about the characteristics and severity of a risk, has been widely studied in the social science literature. In this paper, I provide evidence that risk perception is frequently conceptualized, and measured, as a static construct. I then argue for a re-conceptualization of risk perception as a dynamic, socio-psychological process. While studying risk perception as a static object allows researchers to explore questions such as what/where/when, studying risk perception as a process opens us the door to exploring how and why. To explore this re-framing empirically, I draw on a qualitative study of Principal Investigators hiring postdoctoral fellows to outline a process model that highlights how risk perceptions are constructed over time. I conclude with suggestions for future study.