Research in the area of project strategy has been limited in project management research. In this paper we present the perspectives of project strategy available in literature. Then we present an approach towards an integrated view of project strategy from the viewpoint of stakeholder theory. Most work in this field has been theoretical or conceptual. Furthermore, as large scale projects bring in complexity, it’s important to have a dynamic view of project strategy. We therefore use system dynamics to move towards an integrated definition of project strategy. After developing the system dynamics model we validate the definition and analyze the results. This is part of a phd research being undertaken at ICFAI University Jharkhand.