What are the three phases involved in security testing?

Preparation phase - A formal contract is executed containing non-disclosure of the client's data and legal protection for the tester. At a minimum, it also lists the IP addresses to be tested and time to test.

Conduct phase - In this phase the penetration test is executed, with the tester looking for potential vulnerabilities.

Conclusion phase - The results of the evaluation are communicated to the pre-defined organizational contact, and corrective action is advised.