Final answer:
To identify vulnerabilities in institutional policies and procedures, performing both a vulnerability assessment and reviewing for potential weaknesses is essential, ensuring that decision makers are fully informed.
Step-by-step explanation:
Identifying policies and procedures that may leave an institution vulnerable involves both conducting a vulnerability assessment of institutional policies and reviewing policies and procedures for potential weaknesses. The correct answer is c) Both a and b. Policy analysts aim to identify all the possible choices available to a decision maker and then assess their potential impacts if implemented. This process ensures that decision makers are fully informed about the implications of the decisions they make, without specifically advocating for any one option.