Many organizations set ambitious schedules for their product development projects to gain competitive advantages. However, ambitious schedules might be the main factor to deteriorate project performance. The features of system dynamics application in project management is discussed and a generic simulation model is built for studying the effects of schedule pressure and providing a helpful tool for project management to understand feedbacks, delays and nonlinear relationships among projects and how project behaviors are driven by project structures. Finally, the future works about this study are discussed.