The purpose of this research was to examine the fixed and random effects of risk management on higher education students’ activities at the student and faculty levels of analysis on their life skill development. It aimed to examine the relative impacts of the variables at the micro and macro levels. This study utilised the quantitative survey design using two types of questionnaire. A total of 588 samples consisted of 142 at the macro level and 446 at the micro level. The hierarchical linear model (HML) analysis was utilised to test the fixed effect and random effect of the null model, simple model and hypothesis model. The findings indicated that all the faculties had implemented their risk management higher than the average level. Findings of HML analysis indicated the total mean score of the students’ life skills differed from one faculty to the other to another and could be used to explain the students’ life skills. In addition, there were three independent variables, namely, gender, being a first-year student and being a Fine and Applied Arts student that could explain the prediction coefficient of the first level at 5.18%. At the micro level, the fixed effect analysis showed that the students’ life skills parameter was 3.902, which was significant at 0.01. The macro-level independent variable in risk management of providing knowledge and skills as well as gender had a prediction coefficient of 48.6% and 18.2% to students’ life skills, respectively. In addition, the variable for first-year students and thirdyear students had a negative prediction coefficient of 18.2% and 19.6% to their life skills, respectively. Finally, the independent variable of risk management on providing knowledge and skills had an impact on the students’ life skills at 77.77%. The findings contribute significantly to the body of knowledge and propose a more accurate estimation of life skills development thus promote better policies and practices at the university level.