Multi-project management is crucial in Software Engineering as it draws the resources from common pools, affects the completion date of other projects, determines the priority of use of resources among various projects, involves the judgment of multi-tasking of a common resource, and eventually, determines the success or failure of the projects. Hence, this paper argues that a formal simulation model using System Dynamics principles should be built to study the dynamics of software multi-project management. However, System Dynamics modelling by itself lacks the capability to construct the multi-project network, and thus confines the use of simulation in a single project environment. Thus, this paper is proposing an integration of the System Dynamics model with a multi-project network constructing method, called Critical Chain Project Management (CCPM). CCPM, not only constructs the network, but also recognizes the interdependencies of the multiple projects. However, the combination of these two principles does not simulate unexpected situations, change of policies and strategies that may be encountered during the project development. Hence, a Scenario model is proposed to be integrated with the System Dynamics and CCPM. With such integration, the project manager can identify the restraining factors in various possible scenarios in the multi-project environment, and provide feasible solutions to the senior management.