What is the process of identifying, quantifying, and prioritizing vulnerabilities in a system called?

The process of identifying, quantifying, and prioritizing vulnerabilities in a system is known as a Vulnerability Assessment. This approach systematically evaluates the weaknesses present in an information system, providing a comprehensive view of potential risk areas. During a Vulnerability Assessment, security professionals use various tools and methodologies to scan for vulnerabilities across the network, applications, and devices. Once identified, these vulnerabilities are then quantified based on their severity and potential impact, allowing organizations to prioritize remediation efforts effectively.

This process is crucial to maintaining a robust security posture, as it enables teams to address the most critical vulnerabilities first, thereby reducing the risk of exploitation by malicious actors. In contrast, a Threat Assessment focuses on understanding potential threats and adversaries, whereas a Security Audit reviews compliance and security controls. A Patching Analysis typically entails reviewing and managing the updates and patches applied to software, which is a more focused aspect of vulnerability management rather than the broader assessment process itself.