For solving the problem of so much qualitative indicator and incomplete data in post-evaluation of water transport infrastructure project, a grey and fuzzy model is proposed. The grey assessment is used to design the matrix, and then the risk of the project could be computed by fuzzy comprehensive assessment. The model has been successfully applied to the post evaluation of Huai’an tripe ship lock project, which indicates that the model can reflect the degree of success objectively and the evaluation result is more scientific and more reasonable.