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A QV study under contingency will identify buses with reactive power deficiencies. Grouping those buses within a geographical area, wil make the sink area(s) in a PV study (against the rest of the system) to verify/identify voltage collapse conditions under contingency. Modal analysis of the worst scenarios would verify if the number of buses participating in the voltage collapse is large (system voltage collapse) or small (local voltage collapse). Capacitors can be place at those buses with higest participation factor (from modal analysis) and their sizes will be enough to eliminate the voltage collapse outcome or sufficient to provide additional voltage stability margin.
To place dynamic reactive devices, similar tests can be performed with dynamic simulations under fault/contingency.