This article provides an outline of the issues to consider in performing a probabilistic life assessment. It begins with an historical background and introduces the most common methods. The article then describes those methods covering subjects such as the required random variable definitions, how uncertainty is quantified, and input for the associated random variables, as well as the characterization of the response uncertainty. Next, it focuses on specific and generic uncertainty propagation techniques: first- and second-order reliability methods, the response surface method, and the most frequently used simulation methods, standard Monte Carlo sampling, Latin hypercube sampling, and discrete probability distribution sampling. Further, the article discusses methods developed to analyze the results of probabilistic methods and covers the use of epistemic and aleatory sampling as well as several statistical techniques. Finally, it illustrates some of the techniques with application problems for which probabilistic analysis is an essential element.