On the basis of the modeling mechanism of the grey Verhulst model, a novel grey Verhulst model is constructed considering related factors affecting forecasting precision of a system, and the quantitative relation of model parameters as multiple transformations acting on system characteristic sequences and its related factors sequences are analyzed. Research results show that the modeling accuracy of the novel grey Verhulst model is in relation to multiple transformation of related factors sequence of systems, but it has nothing to do with the multiple transformation of characteristics sequence of systems. Research condusion shows that multiple transformations can simplify the complexity of constructing the novel model.