Before putting your resources into an ICO, you must check the following:-
Read the whitepaper
A white paper generally contains the problem interface, proposed solution by the project, road map, team behind the project, token and its economic model. So if you read their whitepaper, you will get a rough idea of the project, then do your own research on how good the project is and how effective their proposed solution will be to address the existing problem interface.
Check the professional profiles of the team
A project's success is always dependent upon how good the team is, how experienced they are and how professional they are in the core domain. So always do little research and try to check their Linkedin profiles, twitter profiles and other social media profile and I am sure you will get a rough idea of their professional score.
Do check the different forums and social media to listen to the buzz of the ICO
Although there are people who fabricate a hype, but there are good projects too and you can certainly catch the buzz of crypto town if you browse different cryptocurrency related forums and discussion threads. You should check forums like bitcointalk, steemit, reddit, medium, coincompare etc to get the legitimate information related to upcoming ICO and crypto project.
Competition and Rating
Do check the rating of the ICOs you are participating in from various sites and although you may not get the 100% proven impression but you can certainly get the average rating of a particular ICO. How competitive the ICO is...you can check that from a comparative analysis with various other ICO and also from the social media.
Please bear in mind that these sort of research and home work before investing into an ICO is always good to minimize the risk of investment but when ever you are investing, you are taking a risk, therefore always prepare for that risk part and accordingly plan your investment.
Thank you and Have a great day.