Traditionally, system dynamics models are created using the “standard method”: A problem is identified, a dynamic hypothesis is generated based on causal loop diagramming and reference mode definition, a stock and flow structure is created to test the dynamic hypothesis, and finally, insights and potential high-leverage policies are identified based on the resulting model. In this paper, a hybrid approach for the creation of dynamic risk management models is introduced by combining system dynamics with the STAMP accident model. The new approach relies heavily on system dynamics concepts and retains the essence of the “standard method”, but the structure of the models created is linked to the STAMP safety control structure necessary to ensure safety in the entire lifecycle of complex engineering systems. The main steps of the hybrid method are introduced and the similarities and differences with the standard method are emphasized. An example is provided based on a risk management modeling project performed for the NASA Exploration Systems Mission Directorate (ESMD).