BOT is perceived as one of risk sensitive procurement method. Due to the limited consession time, project sponsor is expected to achieve capital payback and profit by the end of consession period. In this condition, investor have to deal with various kinds of risk, such as project failure or miscalculation of financial projections. This paper aims to describe implementation of risk management in Indonesia’s BOT projects, especially in infrastructure industry. Review on previous study targeted at experienced officials from public and private sector organizations has been conducted, to elicit industry opinions and implementations of risk management. These will be combined with literature review in the area of corporate and project finance theories, to identify major risk factor in Indonesia’s BOT projects and to describe the general approach to risk management involving risk identification, risk analysis and risk response. Indonesia’s experiences shows that risk emerges significantly in some area, such as law establishment, land acquisition, construction, tariff, etc.. This formed a situation where risks tends to belong primarily to the private sponsor. Regarding to this situation, some effort has been made in allocating and mitigating risks in the projects. Yet, project sponsor still rely primarily on its managers’ experiences and judgements to analize risks.