The concept of vulnerability has broadened from initial applications in the fields of risk and hazards, human ecology and resilience to now being included into the management of socialecological systems (SESs). We review how this concept has been operationalized in various contexts and identify opportunities and challenges to apply vulnerability assessments to SESs management in the face of social, environmental, and climatic changes. We propose a 12-step framework to help practitioners scope, design, operationalize, and implement vulnerability assessments that can effectively minimize exposure, reduce sensitivity, and build adaptive capacity. We describe the rationale, assumptions and implications that underlie each step and highlight future research directions that are critically needed to further enable vulnerability assessments to address real-world sustainability challenges. These include applying biocultural approaches, building knowledge about SES vulnerability to non-climate stressors, and anticipating potential trade-offs and maladaptation. The framework presented provides a roadmap for the development of integrated vulnerability assessments that are robust, context-specific and relevant to social-ecological management objectives.