Risk management, the systematic approach for identifying, assessing and treating risk, is a central part of any organization's strategic management. Since government agencies are responsible for a wide range of services for citizens, they all face certain degree of risk arising from unplanned events or natural disasters. Therefore, there exists a trend for government departments to learn from the private sector on how to implement effective risk management systems with the UK, Canada, Australia and New Zealand as the leading countries. The fundamental principles and framework of risk management in the public sector of the leading countries are outlined in this article. It is believed that the adoption of risk management will enhance the value of public service of Taiwan s government.