Investment is not only the duty of the government as the “invisible hand”，a powerful tool to macro-control and regulate the economy，it is also a powerful means for the government to guide and drive social funds to effectively invest in projects of public area. In recent years，the total annual investment scale of municipal and district-level investment in Shenzhen has reached about 150 billion yuan，which is mainly concentrated in the four major areas，infrastructure，people’s livelihood services，ecological civilization construction，and industrial innovation support. Among them，“infrastructure construction” has always been the leader. Almost every year，it occupies “half of the government’s investment”. As the scale of government-invested engineering projects continues to expand，the possible legal risks can easily affect the efficiency of government investment. This article starts from the proliferation of legal risks in the management of government investment projects，such as construction of government investment projects，engineering changes，and contract performance，and analyzes from a legal perspective，and proposes countermeasures and suggestions，in order to use legal thinking and legal methods to deal with project risks.