What is vulnerability management?

In this blog, we discuss what vulnerability management is, the lifecycle from discovering weaknesses to prioritising, resolving, and continuously improving defences to minimise cyber risks.

Manoj Korekka, Senior Cyber Security Analyst of Cognisys

Manoj Korekka

7th October 2024

Today’s digital world exposes organisations to increasing cyber threats. As technology advances, so do the tactics of threat actors. Vulnerability management is key to protecting systems and strengthening cybersecurity.

Understanding the fundamentals

Vulnerability management is the ongoing, regular process of identifying, assessing, reporting on, managing and remediating cyber vulnerabilities across endpoints, workloads and systems. At its core, it’s about staying one step ahead of potential threats by proactively addressing weaknesses before they can be exploited.

A strong vulnerability management programme leverages threat intelligence and a deep understanding of IT and business operations to prioritise risks effectively. By doing so, organisations can address vulnerabilities as quickly as possible, minimising their exposure to potential attacks.

SmartScan vulnerability management service dashboard displaying all identified vulnerabilities

The vulnerability management workflow

The vulnerability management process isn’t a one-time event but a continuous cycle consisting of several key stages:

1. Discovery

This initial stage involves identifying vulnerabilities through various assessment methods. Organisations typically employ vulnerability scanners to systematically probe their networks, systems, and applications. Regular penetration testing is also crucial, as it simulates real-world attack scenarios, uncovering vulnerabilities that automated scans might miss.

2. Categorisation and Prioritisation

Once vulnerabilities are identified, they need to be classified and prioritised. This stage often utilises frameworks like the Common Vulnerability Scoring System (CVSS) to assess severity. However, effective prioritisation goes beyond just CVSS scores – it considers factors such as the criticality of affected assets, the potential business impact, and the current threat landscape.

3. Resolution

Remediation can take various forms, including applying security patches, updating software, or implementing other mitigation techniques. In some cases, when immediate patching isn’t feasible, organisations might need to employ compensating controls to mitigate risk.

4. Reassessment

After remediation efforts, it’s crucial to verify that vulnerabilities have been successfully resolved. This typically involves re-scanning systems and conducting follow-up penetration tests to ensure that the applied fixes are effective and haven’t introduced new vulnerabilities.

5. Reporting

The final stage involves documenting and reporting on the entire vulnerability management process. This helps track trends over time, ensures compliance with regulatory requirements, and provides valuable insights for improving the overall security posture.

Analyst examining vulnerability reports and data on SmartView dashboard

Key concepts: Vulnerability, risk, and threat

Vulnerability

This is a weakness in an asset or group of assets that can be exploited by one or more threats. Vulnerabilities can exist in various forms, such as software bugs, misconfigurations, or design flaws.

Threat

A threat is any entity or circumstance that can exploit a vulnerability. Threats can be external (like cyber criminals or nation-state actors) or internal (such as disgruntled employees).

Risk

Risk represents the potential damage or loss that could occur when a threat exploits a vulnerability. It’s typically measured in terms of likelihood and impact.

Understanding the interplay between these concepts is crucial for effective vulnerability management. By identifying vulnerabilities, assessing potential threats, and evaluating risks, organisations can make informed decisions about where to focus their security efforts.

Vulnerability severity rankings

The Common Vulnerability Scoring System (CVSS) is a free and open industry standard used to assess and communicate the severity of software vulnerabilities. The CVSS Base Score ranges from 0.0 to 10.0, with the following severity ratings:

0.1-3.9: Low

4.0-6.9: Medium

7.0-8.9: High

9.0-10.0: Critical

Cyber security team listening to a presentation on vulnerability management solutions

Choosing the right vulnerability management solution

With the increasing complexity of IT environments, selecting an appropriate vulnerability management solution is crucial. When evaluating options, consider the following factors:

Timeliness

The tool should detect vulnerabilities quickly and provide up-to-date information. In the fast-paced world of cyber security, outdated information can be almost as dangerous as no information at all.

Performance impact

Look for a solution with a lightweight agent to minimise impact on endpoint performance. The last thing you want is for your security measures to significantly slow down your systems.

Visibility

Seek real-time, comprehensive visibility into your organisation’s risk posture. This includes coverage across all assets – from on-premises systems to cloud environments and IoT devices.

Integration

The solution should integrate well with other security tools and processes. This enables a more holistic approach to security and can streamline remediation efforts.

Automation

Consider tools that use automation and machine learning to prioritise and remediate vulnerabilities efficiently. As the volume of vulnerabilities continues to grow, automation becomes increasingly important for managing them effectively.

Recent vulnerability management trends and statistics

The landscape of vulnerability management is constantly evolving. Here are some recent trends and statistics that highlight its importance:

  • The number of reported vulnerabilities is expected to grow significantly, with projections indicating a 25% increase from 2023 to 2024, necessitating proactive vulnerability management strategies.
Vulnerability management analyst reviewing and ranking vulnerabilities by severity using the CVSS framework on their computer screen, helping to prioritise remediation efforts.

Best practices for effective vulnerability management

To maximise the effectiveness of your vulnerability management efforts, consider the following best practices:

Adopt a risk-based approach

Not all vulnerabilities are created equal. Prioritise based on the potential impact to your organisation, considering factors like asset criticality and exploitability.

Implement continuous monitoring

The threat landscape is constantly changing. Implement tools and processes for continuous vulnerability scanning and assessment.

Foster collaboration

Effective vulnerability management requires cooperation between security teams, IT operations, and business units. Establish clear communication channels and shared objectives.

Automate where possible

Use automation to streamline routine tasks like vulnerability scanning and patch management. This frees up your security team to focus on more complex issues.

Stay informed

Keep abreast of the latest vulnerabilities and threats. Leverage threat intelligence feeds and participate in information-sharing communities.

Regularly test your defences

Don’t rely solely on automated scans. Conduct regular penetration tests to identify vulnerabilities that automated tools might miss.

Document and learn

Maintain detailed records of your vulnerability management activities. Use this information to identify trends and continuously improve your processes.

As the threat landscape continues to evolve, vulnerability management remains a critical priority for organisations of all sizes. By adopting a proactive, risk-based approach and leveraging the latest tools and best practices, organisations can better protect themselves against cyber threats and minimise the impact of potential breaches.

Remember, vulnerability management is not a one-time effort but an ongoing process. It requires dedication, resources, and a commitment to continuous improvement. However, the investment pays off in enhanced security, reduced risk, and greater peace of mind in an increasingly digital world.

By making vulnerability management a cornerstone of your cyber security strategy, you’re not just defending against today’s threats – you’re building resilience against the challenges of tomorrow.

If you want an ally in vulnerability management capable of delivering all the essentials we’ve listed and more, a service that watches over your IT estate 24/7, then learn more about SmartScan service.

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