Complex product and system（CoPS） plays an important role in the promotion of social and economic development.Dynamic capabilities of CoPS project organization are divided into technical control power, organizational control power and customer perceptionfrom the system perspective. Dynamic model is set up based on intermediate variables, such as feedback speed, feedback quality and cooperation willingness. Through simulating the model via Vensim, the results is proposed which indicate that dynamic capabilities show S-shaped growth trend and U-shaped trust according to the team development theory has evident influence on the dynamic capabilities in the lifecycle. Besides, speculative behavior at the module development stage has the most obvious side effect on all dimensions of the dynamic capabilities and reveals the hysteretic impact on the technical control power.