PERILCertain genres are more conducive to this technique. Fantasy is certainly wide open for it. There are a couple of ways to pull off peril. One is obvious physical peril--an unsuspecting lass walking beneath a falling piano, a young guy racing his motorbike towards a gaping chasm, or as in The Door Within, a young hero being chased by a bad guy with two pointy swords.
There are also subtle ways to create peril. What you do is create implied danger. A menacing shadow, a stranger following the hero but staying just out of sight, the doctor looking at the hero's test results and shaking his head. I like this kind of danger because it allows the reader's imagination to go crazy. Lovecraft, the father of modern horror was a master of this. The villain you don't see is often scarier than the one you do see.
Here's an example:
1. Rachael stared at the gray expanse before her. Now that the bridge was destroyed, the web was the only way to cross the gorge and rescue her baby sister from the Varlocks. Rachel knew the web was strong enough to bear her weight. But, if it came to it, Rachael would gladly accept a quick fall and a painless death, smashed upon the rocks below. It was the alternative that concerned her more. The spider rumored to cling inverted beneath the web, waiting for the vibrations of something edible prancing upon her web--that was the fear. For death in the webs of this creature would mean long and slow, endless pain, as the creatures digestive fluids, cell by cell, consumed Rachael's flesh. Rachael clenched her fists and stepped out onto the web.
The contest and reward are the same for this technique. Good luck.