Risk management is considered as a relatively new brain area in the practice of the customs service. However, in the context of customs administration, it is worth acknowledging that risk management plays a crucial role in coordinated activities to direct and control risk that help customs officials for addressing the problems of limited resources, increased trade volume, and the need for prompt clearance. In the context of compatibility, the application of risk management cannot be based on a one-size fit all model. Each customs administration has its own limitation of resources and a unique situation. This paper investigated the importance of risk management as a tool of trade facilitation and revenue collection. This study analyzed the successful experiences in area of risk management, as well as important international documents, recommended by World Customs Organization (WCO).