This paper introduces Risktionary, a Pictionary-based game designed to teach Risk Management activities in a tertiary level Software Engineering course. An empirical study was conducted to evaluate the impact of Risktionary on student performance, engagement, motivation, and satisfaction. The study involved five groups from two universities who played the paper-based and web-based versions of the game. Results indicate that, regardless of the version, students exposed to Risktionary outperformed the control group taught in a “traditional” manner. Additionally, students playing the game, particularly those with no prior experience in risk management, reported consistently high levels of engagement, motivation, and satisfaction. These findings highlight the potential of gamification as an effective tool for improving the learning experience and outcomes in a Risk Management lecture.