This paper reviews the evolution of approaches to vulnerability assessment related to water resources. From the practices, research gaps are identified, and to overcome these gaps a generalised assessment framework is developed. A feasibility study is then presented in the context of the Lower Brahmaputra River Basin (LBRB). The results of the feasibility study identify the main constraints (e.g., lack of institutional coordination) and opportunities (e.g., adaptation) of LBRB. The described framework can be widely used as a guideline for the vulnerability assessment of water resources systems, particularly in developing countries.