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Steer-by-wire and other “by-wire” systems (as defined in the paper) offer many passive and active safety advantages. To help ensure these advantages are achieved, a comprehensive system-safety process should be followed. In this paper, we review standard elements of system safety processes that are widely applied in several industries and describe the main elements of our proposed analysis process for by-wire systems. The process steps include: (i) creating a program plan to act as a blueprint for the process, (ii) performing a variety of hazard analysis and risk assessment tasks as specified in the program plan, (iii) designing and verifying a set of hazard controls that help mitigate risk, and (iv) summarizing the findings. Vehicle manufacturers and suppliers need to work together to create and follow such a process. A distinguishing feature of the process is the explicit linking of hazard controls to the hazards they cover, permitting coverage-based risk assessment.