In one embodiment of the invention, a method of statically analyzing an integrated circuit with process and environment variations is provided. The method includes characterizing each circuit cell of a cell library for a sensitivity to process parameter variations within a predetermined range; creating a timing graph corresponding to a netlist representing an integrated circuit design; along nodes of the timing graph, computing delay values including sensitivities to process variations; for each selected output node of the netlist, propagating a full timing value function with the sensitivities to the selected output nodes; and generating a parameterized timing report including the sensitivities to the process variations.