1. Identify the input and output variables.
2. Build Causal Loops Diagrams (CLDs).
3. Create Equation and Formulation.
4. Run Simulation and Sensitivity Analysis
5. Validation

As according to System Dynamics Society (2017), stated that System Dynamics is a computer-aided approach that is designed to analyze and solve the complex system through a software. The software for developing System Dynamic Model that has been applied is Vensim PRO software. The approach begins with defining problems dynamically, proceeds through designing, mapping and modelling stages (building a framework or causal loops diagram by inserting the input and output variables that have been taken from the financial model and previous literature). Next are steps for building the System Dynamic Model and then simulate the model via formula equation and analyze the model via sensitivity analysis and finally validate the System Dynamic Model. For further information, the System Dynamic Model theory was developed by Forrester in late 1950s (Alasad, Motawa & Ogunlana, 2012; Xu et al., 2012). He created a set of techniques to simulate the complex, multi-loop feedback, nonlinear system. He divided his model into four aspects which are “Stock” that gathers all inflows and as a source from where outflows come, “Flow” that delivers data information to and from the stock, “Converter” that reacts as a utilitarian role to select proper values and “Connector”.