The purpose of this paper was to review the various, unique risk management styles and practices utilized by farmers in Northwestern Peru. Specific focus was given to better understanding risk propensity and tolerance of farmers in this area. Farmers were given a survey containing basic questions that would reflect their personal levels of risk tolerance as well as share information about their farming operation. Focus was additional placed on analyzing risk perceptions or farmer perceived risk. Perceived risk was broken into three separate sub-categories for further analysis. Risk propensity findings showed that there is a relationship between age, risk tolerance, and profitability per hectare. Findings on risk perceptions or perceived risk showed that farmers evaluate different factors prior to making management decisions, however the factors evaluated by farmers are likely to be different or have different levels of importance in each area. Crop production methods were segmented into six areas: pre-plant, vegetative management, harvest, post-harvest, timeframe, and risk management. Findings for the analysis showed that farmers base their management practices largely off of cultural factors or pre-existing knowledge. Due to this, unless farmers are introduced and educated to new agricultural technology to utilize, they will likely maintain their existing growing and farming practices. Technology plays a significant role in influencing farmer risk propensity and as farmers utilize higher levels of technology, they will often have varying levels of risk propensity. A similar linkage exists with age and risk tolerance.