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In this paper we presents the algorithms for I-V measurements of the diode and FET devices using Keithley® instruments. The data from the I-V measurements was acquired and processed according to the proposed characterization algorithms. The characterization algorithms were used in the extractions of transconductance coefficient, threshold voltage and lambda parameters. The instrument setup and algorithms were used for measurement and extraction of level-1 parameters from the NFET devices present in Piezo-electric Oxide Semiconductor Field Effect Transistor sensors (POSFET) array. The result shows that the developed approach was useful for the quick characterization of the FET devices in our lab.