In General "Picking" an ICO is no different than "picking" an investment. But, you should do more than that....
As with any investment, you should take the time to research the company/idea to get a feel for them and make a decision based on how you view their chances for success are. Every investment has inherent risks, risks you can mitigate through good research.
For ICO, it is not just to have the perfect team with execution track record and of course to have the most disruptive idea that will impact the world, but moreover you should look carefully at their advisory board.
If the advisory board members are not just ones that were picked up along the process, but rather high rank officials from the non crypto world who cares a lot about their reputation and are afraid to be referred to a scam ICO, if those guys are in, it means the company/team/idea is worth looking into them.
I would add that the more advisory board members you have from the old world who highly care about their own reputation, the higher confidence you get about this ICO. so it not just elated to one guy in that advisory board...
Moreover, try to check if the company really cares about the token holder by reflecting true transparency before and after the ICO to make sure this company if the real thing!!