The software industry has adopted component-based software development (CBSD) to rapidly build and deploy large and complex software systems with significant savings at minimal engineering effort, cost, and time. However, CBSD encounters issues on security trust, mainly with respect to dependability attributes. A system is considered dependable when it can produce the outputs for which it was designed with no adverse effect on its intended environment. Dependability consists of several attributes that imply availability, confidentiality, integrity, reliability, safety, and maintainability. Dependability attributes must be embedded in a CBSD model to develop dependable component software. Motivated by the importance of these attributes, this paper pursues two objectives: to design a model for developing a dependable system that mitigates the vulnerabilities of software components, and to evaluate the proposed model. The model proposed in this study is labelled as developing dependable component-based software (2DCBS). To develop this model, the CBSD architectural phases and processes must be framed and the six dependability attributes embedded according to the best practice method. The expert opinion approach was applied to evaluate 2DCBS framing. In addition, the 2DCBS model was applied to the development of an information communication technology (ICT) portal through an empirical study method. Vulnerability assessment tools (VATs) were employed to verify the dependability attributes of the developed ICT portal. Results show that the 2DCBS model can be adopted to develop web application systems and to mitigate the vulnerabilities of the developed systems. This study contributes to CBSD and facilitates the specification and evaluation of dependability attributes throughout model development. Furthermore, the reliability of the dependable model can increase confidence in the use of CBSD for industries.