To obtain a high performance in a direct vector controlled induction machine, it is essential to obtain the current rotor flux. The accuracy of flux observers for induction machines inherently depends on parameter sensitivity. This paper proposes an analysis method for conventional flux observers using "parameter sensitivity". The "parameter sensitivity" is defined as the ratio of the percentage change in the system transfer function to the percentage change of the parameter variation. We define the ratio between real flux and estimated no as the transfer function, and analyze a parameter sensitivity of this transfer function. Practical verification is presented to conform the capabilities of the proposed analysis method.sed analysis method.