When a bank loan project is evaluated, its ability to circulate that is its sbility to pay off and resist risk should be paid attention to. But the method rating project's used now has some problems. Some indexes are overlapping, and some weights are not exact. So the ability to circulate can't be evaluated correctly. In the paper, a new target system to rate water conservancy & hydroelectric projects' risk is construted. In this system, we multiply three 0\|1 variables ($P\-d$, EIRR and environmental in...