Abstract: Project evaluation is an important strategy for enterprises. Because of the significantly increasing cost and keen market competition, project evaluation will decide whether a firm succeeds or not in business, including opportunity seizing, cost control and competitive power. Studies the project's attributes influencing factors and explicit indexes, which affect the project value, and the relationship between them. The artificial neural network is used to develop a project value model, and the conventional BP algorithm is improved to get weighting factors for sample monitoring and training, thus determining the project value and assisting the decisionmaker to evaluate the project. A real application example is given to prove the efficiency of the algorithm and practicality of the model.