Requiring independent audits of the providers' data privacy controls is the best way to ensure third-party providers that process an organization's personal data are addressed as part of the data privacy strategy. Independent audits can verify that the providers are complying with the applicable data privacy laws and regulations, as well as the organization's own policies and standards. Independent audits can also identify any gaps or weaknesses in the providers' data privacy controls and recommend corrective actions or improvements.
Reference:
What Is Your Privacy and Data Protection Strategy? - ISACA
Why data privacy and third-party risk teams need to work together - OneTrust

The best way for an organization to maintain the effectiveness of its privacy breach incident response plan is to conduct annual data privacy tabletop exercises. A data privacy tabletop exercise is a simulated scenario that tests the organization's ability to respond to a privacy breach incident, such as a data breach, leak, or misuse. A data privacy tabletop exercise involves key stakeholders, such as the privacy office, the information security team, the legal counsel, the public relations team, etc., who role-play their actions and decisions based on the scenario. A data privacy tabletop exercise helps to evaluate and improve the organization's privacy breach incident response plan, such as identifying gaps or weaknesses, validating roles and responsibilities, verifying procedures and protocols, assessing communication and coordination, etc. Reference: : CDPSE Review Manual (Digital Version), page 83

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.
Reference:
Privacy Risk Management, ISACA Journal
Enterprise Risk Assessment, Deloitte

Reference:
The data owner is the key stakeholder within an organization who should be responsible for approving the outcomes of a privacy impact assessment (PIA). A PIA is a systematic process of identifying and evaluating the potential privacy risks and impacts of a data processing activity or system. The data owner is the person who has the authority and accountability for the data processing activity or system, and who determines the purpose and means of the data processing. The data owner should approve the outcomes of a PIA, such as the risk assessment, the risk mitigation plan, and the residual risk level, to ensure that they are consistent with the business objectives and legal obligations of the data processing activity or system. Reference: : CDPSE Review Manual (Digital Version), page 99

The principle of data minimization states that personal data should be adequate, relevant and limited to what is necessary in relation to the purposes for which they are processed. By using only the data required by the application, the organization can reduce the amount of data that is collected, stored, processed and potentially exposed. This can also help the organization comply with privacy laws and regulations that require data minimization, such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA).
Reference:
CDPSE Review Manual, 2021 Edition, ISACA, page 98
[Data minimization], European Commission