In this study, a risk-based management model is developed and applied to an industrial zone. The models proposed by the United States Environmental Protection Agency and Han Bing have been improved by adding a residual ratio of volatile organic compounds (VOC) after boiling and deleting the related parameters in half-life. Using this improved model, an integrated process was used to assess human health risk level in the study area. Compared with water quality analysis, the results highlight the importance of applying an integrated approach for decision making on risk levels and water protection. The results of this study demonstrated that: (1) Compared with these permissible level standards in China (GB 3838-2002) and National Primary Drinking Water Regulations of the United States, the residents’ daily life had not been affected by the groundwater in this area (except for relative bad water quality of HB3-4 and HB3-6); (2) The typical detected organic contaminants of all groundwater samples were chloroform, carbon tetrachloride, trichloroethylene and tetrachloroethene, and the pollution sources were mainly industrial sources by preliminary investigations; (3) As for groundwater, the non-carcinogenic risk values of all samples do not exceed the permissible level of 1.0 and the carcinogenic risk values are relatively lower than the permissible level of 1.00E-06 to 1.00E-04; (4) Drinking water pathway of trichloroethylene and tetrachloroethylene mainly contribute to increasing the health risk of residents’ in study areas; (5) In terms of non-carcinogenic risk and carcinogenic risk, the health risk order for drinking water pathway and dermal contact pathway was: drinking water pathway > dermal contact pathway.