Discrete multiple-cavity models coupled with quasi-two-dimensional (quasi-2D) friction models are effective solutions to simulating transient cavitation pipe flows. The simulation accuracy of such models hinges upon the understanding of key parameters of the models, which remains elusive so far. To address such an open issue, this paper employs the discrete vapor cavity model (DVCM) and the discrete gas cavity model (DGCM), combined with the quasi-2D friction model, with a particular focus on revealing the sensitivity of these models to the key parameters such as grid number and weighting parameters. Based on the quantitative analysis and pressure fluctuation history, a method is developed to evaluate the accuracy of numerical results. Results show that the inclusion of the quasi-2D friction model improves the accuracy of predicting time of cavity formation and collapse; however, it does not affect the selection of grid number. Meanwhile, numerical results are sensitive to the weighting parameter of the viscous term in the quasi-2D friction model except for the case of low-intensity cavitation and its value of 1 is suggested for all cases. From the practical point of view, our finding is helpful to understand the feature of discrete multiple-cavity models and improve the simulating accuracy of transient cavitation pipe flows.