CMA Sri Lanka SL3 Business Strategy & Risk Management Exam study plan
CMA Sri Lanka SL3 Business Strategy & Risk Management Exam · Give each week a clear focus.
8 weeks · About 7 hours per week
Strategic Analysis and the External Environment
Map the PESTEL factors affecting a Sri Lankan listed company and rank them by impact and uncertainty
Apply Porter's Five Forces to a named industry and justify each force rating with evidence
Distinguish macro-environment, industry and competitor layers using the strategic analysis hierarchy
Explain how industry life-cycle stage changes the relative weight of the five forces
Your checkpoint
A one-page PESTEL plus Five Forces analysis of a single Sri Lankan industry, with each force scored 1-5 and backed by one supporting fact
Strategic Analysis and the External Environment & Strategy Formulation, Choice and Evaluation
Construct a strategic group map and identify mobility barriers between groups
Evaluate resource-based view criteria (VRIN) against a chosen firm's capabilities
Compare SWOT with TOWS and convert at least four findings into strategic options
Assess stakeholder power and interest to test whether an external opportunity is genuinely accessible
Your checkpoint
A TOWS matrix with eight options derived from a completed SWOT and VRIN assessment of one firm
Strategy Formulation, Choice and Evaluation
Apply Ansoff, BCG and directional/portfolio models to generate and screen growth options
Distinguish cost leadership, differentiation and focus, and identify stuck-in-the-middle risk
Evaluate a diversification decision using parenting advantage and synergy tests
Explain how corporate parent value creation differs from portfolio management
Your checkpoint
An option-evaluation sheet scoring five growth options against suitability, acceptability and feasibility criteria
Strategy Formulation, Choice and Evaluation & Strategy Implementation, Change and Performance Measurement
Apply SAF (suitability, acceptability, feasibility) to select one recommended strategy
Build a simple investment appraisal using NPV and payback to test financial acceptability
Identify the organisational structure and culture changes the chosen strategy requires
Explain the role of strategic leadership in aligning structure with strategy
Your checkpoint
A two-page strategy recommendation with a justified SAF screen and an NPV/payback calculation showing financial acceptability
Strategy Implementation, Change and Performance Measurement & Corporate Governance, Ethics and Stakeholder Management
Diagnose change context using the Balogun-Hailey or Kotter frameworks and select an appropriate change approach
Explain the difference between strategic, operational and project change programmes
Map the board committee structure and the role of independent non-executive directors under the CSE listing rules and the Code of Best Practice
Distinguish agency theory from stewardship theory in board composition debates
Your checkpoint
A change management plan for implementing the week-4 recommendation, including a stakeholder resistance map and a governance approval route
Risk Management Framework, Identification and Assessment
Distinguish risk appetite, risk tolerance and risk capacity with worked examples
Apply ISO 31000 process steps to identify, analyse and evaluate risks for a named organisation
Classify risks into strategic, operational, financial, compliance and reputational categories
Use a likelihood-impact matrix and a risk register with owners and controls
Compare qualitative, semi-quantitative and quantitative risk assessment techniques
Your checkpoint
A populated risk register with at least ten risks, scored on a 5x5 matrix, each with an owner and an existing control
Risk Management Framework, Identification and Assessment & Risk Response, Internal Control and Enterprise Risk Management
Match risk responses (avoid, reduce, transfer, accept, exploit, share) to specific register entries
Evaluate internal control components using the COSO framework and identify control weaknesses
Distinguish preventive, detective and corrective controls and give an example of each
Explain how ERM integrates risk with strategy and performance rather than operating as a separate compliance exercise
Assess the three lines model and its role in assurance
Your checkpoint
A risk response plan covering the week-6 register, mapping each risk to a response, a control type and a residual risk score
Corporate Governance, Ethics and Stakeholder Management & Risk Response, Internal Control and Enterprise Risk Management
Apply an ethical decision-making framework to a governance dilemma and justify the chosen course
Explain whistleblowing channels, codes of conduct and the board's role in setting ethical tone
Integrate ERM outputs into board reporting and performance measurement using balanced scorecard perspectives
Synthesise all six domains into a single case-style answer under timed conditions
Your checkpoint
A timed 90-minute mock case answer covering all six domains, self-marked against the syllabus weightings with a list of three weak areas to revisit
Milestones
Week 2: Complete 30 exam-style questions on Domains 1 and 2 and score at least 65%, with a written note on every missed question
Week 4: Produce a full strategy recommendation unaided in 60 minutes and confirm it addresses suitability, acceptability and feasibility explicitly
Week 6: Complete a 25-question risk identification and assessment set at 70% or above, and confirm the risk register has no risk without an owner
Week 8: Score at least 60% on the timed full-syllabus mock and produce a final one-page revision sheet per domain