Assessment and modeling associated with the examination of vulnerability and reliability in network based infrastructure have long been recognized as important and necessary. Recent years have seen a growth of activity in vulnerability modeling given natural disasters, human error and terrorist activities. This is due to increased reliance on networked based systems in our everyday lives, as well as the interconnectedness of a range of infrastructures like telecommunications, transportation, electricity, water, etc. This paper provides an overview of the evolution of modeling approaches to examine network vulnerability. Reviewed approaches are characterized in terms of how system performance is accounted for. Interdiction scenarios for each performance class are discussed, illustrating the unique attributes of the various modeling approaches.