In order to quantify the input-output evaluation index of high-energy consumption main transformer transformation projects of power grid enterprises, to provide a real, effective, and quantitative basis for investment decisions, the project input and output indexes are measured from the whole life cycle perspective. The whole life cycle cost, including the initial investment and annual operational maintenance cost, is selected as the input evaluation index, and the four dimensions of safety, economics, efficiency, and greenness are considered. The output evaluation index is proposed, combined with the investment effectiveness of typical projects of production technology reform, the potential output analysis indexes under each dimension are sorted out, the full set of output evaluation indexes of production technology reform projects is constructed, the corresponding characteristic indexes of high energy consumption main transformation projects are selected from the full set of indexes, and mathematical evaluation model of input-output analysis of high energy consumption main transformation projects is built. Verify the model through practical engineering examples.