Abstract: Embodiments herein provide a system, method and an apparatus for vulnerability management for connected devices on a network. The proposed method includes identifying vulnerability in a device. The method includes determining whether the vulnerability affects the device by applying one or more rules. Further, the method includes calculating vulnerability score by assigning weights to impact metric and exploitability metric. In various embodiments, the method includes predicting security incident for the device based on the computed vulnerability score, security capabilities of the device and various anomalies on the device.