I have been using this program (Personal Software Inspector) for a couple of months now and found it quite useful. You can get the program on a free download from Secunia at
http://secunia.com/vulnerability_scanning/personal/ It scans your computer for any out of date or unpatched software and notifies you of it. It also provides a link to the software supplier to obtain any missing patch. If you are using out of date/unsupported software that you want to keep using you can put it on an "Ignore" list so that it doesn't keep getting reported.
I use the program about once a week via a desk top shortcut to check on my software (I also use Filehippo Update Checker and I find them complementary rather than competing). Once I have scanned I close the program, otherwise it will continue to run in the background which seems unnecessary.
