Various hydrogeological problems like groundwater inflow, water table drawdown, and water pressure redistribution may be encountered in the construction of hydraulic projects. How to accurately predict the occurrence of groundwater inflow and assess the drainage effect during construction are still challenging problems for engineering designers. Taking the Jinzhai pumped storage power station (JPSPS) of China as an example, this paper aims to use different methods to calculate the water inflow rates of an underground powerhouse and evaluate the drainage effect caused by tunnel inflow during construction. The methods consist of the analytical formulas, the site groundwater rating (SGR) method, and the Signorini type variational inequality formulation. The results show that the analytical methods considering stable water table may overestimate the water inflow rates of caverns in drained conditions, whereas the SGR method with available hydro-geological parameters obtains a qualitative hazard assessment in the preliminary phase. The numerical solutions provide more precise and reliable values of groundwater inflow considering complex geological structures and seepage control measures. Moreover, the drainage effects, including a seepage-free surface, pore water pressure redistribution, and hydraulic gradient, have been accurately evaluated using various numerical synthetic cases. Specifically, the faults intersecting on underground caverns and drainage structures significantly change the groundwater flow regime around caverns. This comparative study can not only exactly identify the capabilities of the methods for cavern inflow in drained conditions, but also can comprehensively evaluate the drainage effect during cavern construction.