The life cycle of technology is one of the most important indexes to weigh up the risk of the investment to neo-tech. There are so many uncertainties because it is conditioned by a lot of factors, we can not make a rational forecasting by traditional assessment method. So this paper gives a conprehensive consideration to the factors that influence production and makes some modification to production function, and establishes the life cycle of technology assessmet model by the method of fuzzy mathematics. So it quantifies the risk of investment. We can take it as one foundational index for the decision making of the investment.