Model uncertainty is present in many engineering problems but particularly in those involving geotechnical behavior of pile foundation. A wide range of soil conditions together with simplified numerical models makes it a constant necessity to review the accuracy of the predictions. In this paper, the outputs of some seventy (70) pile axially-loaded tests have been reviewed with a classic numerical model to assess pile deformation. Probabilistic approach has been used to quantify uncertainties coming from soil tests, statistic uncertainty and also from the model itself. In this way, a critical review of the prediction method and a way to quantify its uncertainty is presented. The method is intended to be used in a wide range of engineering problems.