The rapidly developing technology and lack of standards in the transportation industry for the proposed Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), and Vehicle-to-Everything (V2X) networks, which all vehicles will operate under, drives concern about information validity and authenticity due to the risk of erroneous or malicious information being injected into a vehicular network (VN). In this paper, we apply a risk management process to a vehicular network that will identify hazards and possible controls that can lower their risk. After researching and reviewing various technologies along with several risk models, we have developed a basic framework for assessing and assigning risk through a phased method that leads to input for our developed model.