Abstract: Bidding decision-making of dynamic alliance of construction projects is a comprehensive evaluation process; it consists of many risk factors that need considering not only the strength of the dynamic alliance and the conditions of owner, but also the conditions of candidate projects and competition. By consulting related literatures published in the public at home and abroad and investigating the present situation of the construction market in China, expert knowledge is acquired, and based on which a index system is built to evaluate bidding risk factors of dynamic alliance of construction projects. Considering the fact that there is a mutually influencing and constraint relation among indexes and expert subjective evaluations often have nonlinear characteristics, the feasibility for using an Analytic Network Processl(ANP) method for the evaluation is researched and the application steps are specified. Case studies prove that ANP method can be used to rank many projects via bidding risk evaluation, the computation is simple, and it is applicable to manifold comprehensive evaluations.