From the view-point of enterprise, project investment is the carrier achieving the strategic goal of enterprise. The bad performance of project investment necessarily causes the loss of enterprise economic profit and social profit, and the demoralization of staff, even to affect the total development strategy of enterprise. Then what factors will affect the result of project investment? How to measure these factors? The answer of these two problems will be the key to the exertion of project function, the enhancement of investment effect and the optimization of regional resource collocation. Based on a questionnaire survey by factor analysis, six main risk factors are extracted as effective measures on project investment effect. By multi-variable correlation analysis, the correlative relationship between the six risk factors and project investment effect is discussed and six variables are found critical in project investment effect. Finally, using one-way ANOVA, the level of critical factors influencing project investment effect are compared among Beijing, Shanghai, Xi'an, Guangzhou and Wuhan.
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