In order to investigate the implementation effect of publicprivate partnerships (PPP) in urban rail transit project, the performance aim pursued by major stakeholders are investigated and analyzed from the perspective of the whole life cycle of the PPP projects. According to the characteristics of PPP in urban rail transit project, the performance evaluation system of the urban rail transit PPP project is established by stages. A Choquet fuzzy integral model is adopted to evaluate the project from the perspective of government. Finally, the model is applied to Qingdao Metro Line No.3. The rationality of the model is verified, and some suggestions are put forward for the development of urban rail in Qingdao. The results can provide new ideas for the performance management of urban rail transit PPP projects.