Poor soil fertility and unreliable rainfall are often associated with the frequent crop failures in Uganda. However, adoption of yield increasing and risk reducing technologies in Uganda is among the lowest in Sub-Saharan Africa. The first essay of this paper examines the impact of production risk on farmers’ simultaneous use of high yielding maize varieties (HYM) and fertilizers in Uganda. The study is implemented in two steps: the first step involves the application of the flexible moment based approach to generate lagged output moments as proxy measures of production risk, and the second step involves incorporating the lagged output moments in a technology adoption model to identify the effect of production risk on adoption of the various HYM and fertilizer combinations in Uganda. The simultaneous technology adoption decisions are estimated using a multinomial probit estimator. Estimation results show that the expected output, the variance, and the probability of crop failure (skewness) are important factors affecting the simultaneous use of the HYM and fertilizer package. Whereas farmers simultaneously adopt the two technologies to increase expected yield, they also seem to use the combined bundle to hedge against complete crop failure. Other factors important for adoption of the HYM and fertilizer bundle include scale of production, access to extension services, access to credit, household assets, and access to output markets.