Summary: We present a continuum parameter and shape sensitivity analysis of metal forming processes using the finite element method. The sensitivity problem is posed in a novel updated Lagrangian framework as suitable for very large deformations when remeshing operations are performed during the analysis. In addition to exploring the transfer of variables between meshes for finite deformation analysis, the complex problem of transfer of design sensitivities (derivatives) between meshes for large deformation inelastic analyses is also discussed. A method is proposed that is shown to give accurate estimates of design sensitivities when remeshing operations are performed during the analysis. Sensitivity analysis for the consistent finite element treatment of near incompressibility within the context of the assumed strain methods is also proposed. In particular, the performance of four-noded quadrilateral elements for the sensitivity analysis of large deformations is studied. The results of the continuum sensitivity analysis are validated by a comparison with those obtained by a finite difference approximation (i.e., using the solution of a perturbed deformation problem).