Organizations are finding themselves under the pressure of being forced to react quickly to the dynamically increasing number of cybersecurity threats. Since the attackers have been using an attack life cycle, organizations have also been forced to come up with a vulnerability management life cycle. The vulnerability management life cycle is designed to counter the efforts made by the attackers in the quickest and most effective way. This chapter has discussed the vulnerability management life cycle in terms of the vulnerability management strategy. It has gone through the steps of asset inventory creation, the management of information flow, the assessment of risks, assessment of vulnerabilities, reporting and remediation, and finally the planning of the appropriate responses. It has explained the importance of each step in the vulnerability management phase and how each should be carried out. The asset inventory has been described as crucial to the strategy because it is the point where all the details about the hosts are listed to assist in a thorough sanitization of all machines that may have vulnerabilities. The critical function of the information management step in disseminating information in a fast and reliable way has also been highlighted, as well as the tools commonly used to achieve it. The risk identification and classification functions of the risk assessment step have also been discussed. The chapter has also discussed the identification of vulnerabilities in hosts in the vulnerability assessment phase. The roles played by reporting and remediation tracking to inform all stakeholders and follow up on remediation have also been touched upon. The chapter has also discussed the final execution of all responses in the response planning step. The best practices for completing each of the steps successfully have also been discussed.