Small atomic or molecular clusters provide the bridge between vapor and liquid phases. Nucleation is a rare event process by which clusters of a new phase are produced. This process is inherently dynamic and as such the new phase cannot exist until an activation barrier is surmounted. Dynamical nucleation theory (DNT) utilizes variational transition state theory to provide a framework in which cluster evaporation and condensation rate constants can be determined directly. To date, the fundamental nature regarding the intrinsic instability of the kinetics of the nucleation process has eluded theoretical efforts. In this paper we present a sensitivity analysis of the homogeneous nucleation rate on kinetic parameters used in DNT. Moreover, several classical interaction potentials for water exist, most of which have been parametrized to reproduce some bulk properties of water at ambient conditions. Thus, an analysis was undertaken to explore what effects different water potentials have on the dynamical quantities relevant to nucleation. The implication of these results on future work will be discussed.