As Martin said, in Pro/ENGINEER Wildfire 4.0 we could change the "Dashboard Position" under Tools > Customize Screen > Options with the radio buttons for Above/Below the graphics area. This option was removed in Wildfire 5.0 and later.
In Wildfire 5.0, the message log was fixed above the graphics area. In Creo Parametric, the message log was fixed below the graphics area. The placement change was presumably to make room for the new command ribbon introduced in drawing mode of Creo Elements/Pro 5.0 and later implemented for all modes in Creo Parametric.
The config.pro option "visible_message_lines" might be of interest. This will define the default number of visible lines in the message log.