Drawing on 2 contrasting cases of community forestry (i.e., multiple-purpose, relatively low value upland forests in Nepal and humid lowland forests of high commercial value in Cameroon), this paper argues that policy development has involved many unknowns, necessitating a learning process orientation and considerable flexibility. It is concluded that community forestry is undoubtedly a risky venture both for forest-dependent communities and the agencies which seek to support them. It involves substantial cost, but the benefits may be significant, as regards both rural livelihoods and the proper husbandry of hitherto under-managed resources.