Major power projects are normally critical nodes of the national power producing and transmission networks. However, the management of major power projects faces a variety of difficulties such as large scale, technical complexity, high quality standard, and frequent coordination. To improve the scientificity and effectiveness of the construction management of major power projects, a comprehensive framework of major power projects is established, which can be further decomposed into 8 subsystems and 28 indicators through system thinking. Then, by combining the G1 method with the cloud model, a new way of management performance evaluation of power projects is provided. Finally, taking the Kunliulong DC demonstration project as a case, the total performance evaluation result using the cloud model is between “excellent” and “great,” and more inclined to “excellent,” the performance of Schedule Control is close to the “outstanding” level, while the performance of Project Breakdown Structure is reaching the “good” level. The result shows that the established management evaluation system of major power engineering is relatively comprehensive, which can provide a reference for the realization of multiobjective and full-cycle overall management. Meanwhile, the exposed weak links in management, such as structural decomposition and environmental protection, should be highly valued and strictly controlled.