An energy analyzing method called the Impact Energy Model (IEM) is introduced to assess and diagnose the rub–impact fault of a rotor system. The main purpose of the model is to indicate the probability of rub–impact or the severity level of the fault. Utilizing the nonlinear predictive energy, an effective quantitative evaluation index IEM is obtained from the model. Some work has been done elsewhere to partly demonstrate the IEM through experiments. In this paper we mainly discuss the variation of the IEM index with the speed ratio Ω at different levels of damping ratio ξ. The stagnation point is discussed in detail which is important to the assessment for the probability or severity of a rub–impact fault. The influence of dynamic stiffness is discussed which may affect the assessment result of the IEM. Furthermore, a sensitive area of the rotor operating system is presented. The result shows that this sensitive area provides a reference for the operation and design of a rotor system.