An earlier paper described a method for recognizing the uncertainty in loss-of-load probability (LOLP) as computed for a single-area system due to uncertainty in generator forced outage rates. This was done by treating generator forced outage rates as random variables with known means and variances and computing, exactly, the resulting mean and variance of LOLP. The mean and variance of LOLP were then used to compute, approximately, the limits between which LOLP can be expected to vary with specified probability. The present paper presents approximate methods for computing the variances and covariances of generating capacity outage state probabilities and of LOLP variance in systems with or without maintenance outages. These approximate methods offer significant savings in computer time and storage as compared to exact methods while maintaining excellent accuracy.