Explanation
Prioritizing privacy-related risk scenarios as part of ERM processes is the best way to ensure that the risk responses meet the organizational objectives, because it helps to align the privacy risk management with the overall strategic goals, values, and culture of the organization. ERM is a holistic approach to identify, assess, and manage risks across the organization, taking into account the interdependencies and trade-offs among different types of risks. By integrating privacy-related risk scenarios into the ERM processes, the organization can evaluate the potential impact and likelihood of privacy risks on its mission, vision, and performance, and prioritize the most significant ones for mitigation or acceptance. This can also help to allocate appropriate resources, assign clear roles and responsibilities, and monitor and report on the effectiveness of the risk responses.
References:
* Privacy Risk Management, ISACA Journal
* Enterprise Risk Assessment, Deloitte