This literature review discusses risk management research with System Dynamic modeling. Literature is reviewed by summarizing the research that has been done and examining research findings, research relationships, and research problems that require further research. The risk management paper with System Dynamic modeling (2000-2020) is reviewed by dividing risk into 3 groups, namely: internal risk, external risk, and project risk. Each group is further divided into technical risks and non-technical risks. The results of the study stated that risk management with System Dynamic modeling has not been widely used as evidenced by research (2000-2020); there are only 25 papers that match the keywords and can be written reviews. Ten internal risk papers include: project members, location risk, document risk & information. External risk papers are only found in 2 papers that discuss: weather risk and social risk, while the project risks are found in 13 papers discussing: cost risk, time risk, work quality risk, and construction risk.