The electrification of power and propulsion systems on aircraft is a key enabler for the decarbonisation of aviation. A significant challenge for the design of these electrical power systems is that electrical propulsion is a disruptive technology, with neither the associated electrical power system (EPS) architectures nor industry standards established. Compared to conventional, state-of-the-art aircraft, these next-generation aircraft necessitate much more interdependent design of different systems and sub-systems. As such, the efficient design and downselection of an EPS which meets both performance (e.g. weight) and dynamic functionality requirements is challenging. This paper builds on a pre-existing, hierarchical-based EPS modelling framework developed by the authors to present a new design methodology which also incorporates bi-directional interfaces between EPS performance and dynamic functionality, and EPS and non-electrical systems design. The methodology is demonstrated for interdependent electrical power and nonelectrical power systems design, through a case study focussing on the development of a fault management strategy for an EPS integrated with a carbon fibre reinforced polymer structure on a concept electrical vertical take-off and land aircraft.