For investors, it is critical to select a low risk one from numerous investment projects to invest for creating the largest profit. How to choose the best investment project is a challenge for decision makers. This paper firstly uses BSC to select some better ones from candidate investment projects, eliminating comprehensive measured and tested poorly enterprise. Then the comprehensive investment risk evaluation for the rest projects is made by using AHP, to select the lowest-risk project. For investment decision makers in the project investment, this can provide a theory basis for decision-making.