Objective To analyze the application value of risk management model in pediatric intensive care unit (PICU). Methods From Jan. 2015 to Oct. 2015, a total of 86 children who accepted treatment in PICU were taken as the clinical research objects, and they were randomly divided into observation group and control group. Both groups accepted conventional nursing. Besides, the observation group accepted additional risk management in order to compare their nursing quality score, satisfaction degree of their relatives and complication rate. Results Before risk management, there were no significant differences in nursing quality scores and parents' satisfaction degrees (P<0.05). After risk management, the nursing quality score and parents' satisfaction degree were respectively (96.34±5.32) and (96.62±3.41)%, which were significantly higher than those in the control group and before risk management. The complication rate in the observation group was 11.63% which was significantly lower than that in the control group 32.56% (P<0.05). Conclusion In order to improve the prognosis of children, reduce the occurrence of nursing complications, obtain the satisfaction of the family members of children and prevent the occurrence of adverse events, risk management can be carried out.