Consumer-grade digital cameras suffer from geometrical instability that may cause problems when used in photogrammetric applications. This paper provides a comprehensive review of this issue of interior orientation parameter variation over time, it explains the common ways used for coping with the issue, and describes the existing methods for performing stability analysis for a single camera. The paper then points out the lack of coverage of stability analysis for multi-camera systems, suggests a modification of the collinearity model to be used for the calibration of an entire photogrammetric system, and proposes three methods for system stability analysis. The proposed methods explore the impact of the changes in interior orientation and relative orientation/mounting parameters on the reconstruction process. Rather than relying on ground truth in real datasets to check the system calibration stability, the proposed methods are simulation-based. Experiment results are shown, where a multi-camera photogrammetric system was calibrated three times, and stability analysis was performed on the system calibration parameters from the three sessions. The proposed simulation-based methods provided results that were compatible with a real-data based approach for evaluating the impact of changes in the system calibration parameters on the three-dimensional reconstruction.