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Under changing environment, the feasibility and potential impact of an inter-basin water transfer project can be evaluated by employing the coincidence probability of runoff in water sources area (WSA), water receiving area (WRA), and the downstream impacted area (DIA). Using the Han River to Wei River Water Transfer Project (HWWTP) in China as an example, this paper computed the coincidence probability and conditional probability of runoff in WSA, WRA and DIA with the copulabased multivariate joint distribution and quantified their acceptable and unfavorable encounter probabilities for evaluating the water supply risk of the water transfer project and exploring its potential impact on DIA. Results demonstrated that the most adverse encounter probability (dry-dry- dry) was 26.09%, illustrating that this adverse situation could appear about every 4 years. The acceptable and unfavorable probabilities in all encounters were 44.83 and 55.17%, respectively, that is the unfavorable situation would be dominant, implying flood and drought risk management should be paid greater attention in project operation. The conditional coincidence probability (dry WRA & dry DIA if dry WSA) was close to 70%, indicating a requirement for an emergency plan and management to deal with potential drought risk. [ABSTRACT FROM AUTHOR]