There are a few careers dedicated to identifying better ways to compute the value of various sets of option contract terms under different assumptions. If beta is a Greek letter that comes to mind when, you could probably still get something out of the Wikipedia article on Black-Scholes. Branch from there.
If you want to move toward applications I would recommend the general treatments Espen Haugs - The Complete Guide to Option Price Formulas - if you want some calculators. It covers enough variations of numerical methods and terms that you could really use that material as inspiration for valuing many types of uncertain payoff. Paul Wilmott Introduces Quantitative Finance can help you build up some more mathematical intuition about option valuation.
There's not one good way. It's more of a field where designing a way for the particular situation is a liberal art and takes a lot of practice.