The deepening of power market reform puts forward new requirements for risk management control of power grid. By summarizing the risk management and control measures of PJM（Pennsylvania-New Jersey-Maryland） power market, this paper analyzes the physical operation risk management and control measures of PJM system from two aspects: long-term and short-term, along with real-time measures before the occurrence of the risk accident, and emergency interruption and recovery measures after the occurrence of risk accident; this paper analyzes its risk management and control measures based on power market from four aspects: day-ahead reliability unit commitment, ancillary service market optimized jointly with electric energy market, medium and long-term capacity market and transmission right market. Compared with the existing risk control measures in China Southern Power Grid, this paper proposes a series of suggestions, such as conducting multi-period risk assessment, adopting the risk control means combining dispatch with market, constructing a complete market system, and establishing a risk management committee, etc.