Privacy impact assessments (PIAs) must:

• Identify and assess privacy risks when collecting, using, or sharing personal information.
• Comply with legal and regulatory requirements like GDPR or relevant privacy acts.
• Engage stakeholders, including data subjects and relevant parties, to support transparency and obtain valuable feedback.
• Include a detailed project description covering personal information collected, its purpose, storage, access, sharing, and disposal.
• Evaluate risks with a risk table showing unmitigated and mitigated likelihood and consequences, along with mitigation measures and an action plan.
• Be conducted at the beginning of a project involving personal data, and be regularly reviewed as the project or regulatory context changes.
• Document findings and mitigation actions to ensure accountability and build consumer confidence.

These assessments are necessary when projects involve personal information, surveillance, or impacts on individuals’ privacy expectations. Organizations that fail to perform PIAs risk legal penalties, data breaches, and loss of trust. In summary, privacy impact assessments must comprehensively identify privacy risks, involve stakeholders, comply with applicable laws, and maintain documentation to mitigate risks throughout a project’s lifecycle.