I would research the team behind the project, see if they have any prominent competitors (or even better similar competing ICOs), I would also see the minimum amount of contribution and the amount of time the ICO will last to have a better idea on how they plan on collecting and managing funds, and if you're a blockchain expert (or have a blockchain expert close at hand) check the technical feasibility of the project since many projects out there are too ambitious and simply not achievable.

But first and foremost, I would do a google search and see how many relevant results I get..