A new approach to dynamic conflict analysis is presented that integrates value-focused thinking and the graph model for conflict resolution. This approach is based on the premise that values are the driving forces behind the evolution of a conflict from one frame to another. Value-focused thinking is employed to identify the decision makers' values and objectives, which facilitate the establishment of a conflict model consisting of decision makers as well as each decision maker's options and preference rankings of states for each frame. A decision support system called GMCR II is utilized to analyze the conflict model and predict possible resolutions for each frame, which are assessed against the measures established from value-focused thinking for evaluating the achievement of objectives. A case study is presented to illustrate how the approach can be applied to a real world conflict.