CIMA P3 Risk Management: Complete 10-Session Course

Overview

CIMA P3 Risk Management study roadmap

First, identify what could prevent a business from meeting its goal. Then assess the likely effect and compare suitable responses. For example, a supplier delay may affect sales, cash and customer trust. Therefore, explain the links between risks before recommending an action.

Sessions	Course focus	Practice purpose
1–3	Enterprise, strategic and operational risk	Identify risks in the business context
4–6	Assessment, financial risk and responses	Compare impacts and possible actions
7–8	Controls, governance and emerging risks	Assess oversight and the control environment
9–10	Integrated analysis and revision	Apply P3 knowledge to case questions

Risk Management overview
10-session P3 lecture plan
P3 course FAQsP3: Risk Management focuses on how organizations identify and manage uncertainty, financial exposure, and strategic risks in complex business environments. It covers risk identification, assessment, response strategies, internal controls, financial risk, and enterprise risk management. Furthermore, learners develop the ability to evaluate risk information, assess potential impacts, and recommend appropriate strategies that support organizational resilience and long-term objectives.

Offered By

The Chartered Institute of Management Accountants (CIMA)

The CIMA was founded in 1919. The CIMA head office is located in London, UK.

Members

In 2017, AICPA & CIMA came together to forge a powerful international alliance that promotes accounting and finance in every corner of the world. As of 2025, AICPA & CIMA serve 580,000 members, candidates, and registrants in 150 countries and territories.

Vision & Mission

Vision: To develop finance professionals who can evaluate complex risks, apply effective risk management strategies, and support resilient and sustainable organizational performance.

Mission: To provide advanced knowledge and practical skills in risk identification, assessment, financial risk management, internal controls, and strategic risk response, enabling learners to make informed decisions in uncertain business environments.

What is the eligibility?

Progression: P3 Risk Management is a Strategic Level subject. Candidates must meet the relevant CIMA progression requirements before undertaking it.
Exemptions: Previous academic qualifications or professional studies may support an exemption application. Therefore, check CIMA’s approved exemptions and progression record before booking an assessment.

Who can do?

Anyone who is interested to learn about following concepts can pursue CIMA P3: Risk Management:

Enterprise Risk Management, Strategic Risk Management, Operational Risk Management, Financial Risk Management, Risk Assessment, Risk Response, Internal Controls, Corporate Governance, Compliance Risk, Emerging Risks, Risk Analysis, Business Continuity, and Strategic Risk Decision-Making.

Individuals with the following designations:

Students and Graduates, Finance Managers, Risk Managers, Risk Analysts, Business Analysts, Auditors, Internal Auditors, Controllers, Accounting Professionals, Compliance Professionals, Corporate Executives, CEOs/CFOs, Bankers, Governance Professionals, Strategy Professionals, and Career Changers.

Lecture plan

The CIMA P3: Risk Management program is structured across 10 comprehensive sessions, covering the key concepts, techniques, and practical applications required for effective risk management and strategic decision-making. The sessions combine theoretical learning, risk analysis, business scenarios, strategic application, and exam-focused preparation to help learners develop the knowledge and skills required for the CIMA P3 assessment.

Session 1:

Enterprise Risk Management & Risk Frameworks (1)

Introduction to P3, enterprise risk management, risk concepts and classifications, risk appetite, risk governance, risk frameworks, risk management processes, and the role of risk management in achieving organisational objectives.

Session 2:

Strategic Risk Management (1)

Strategic risk identification, external and internal risk factors, environmental analysis, strategic uncertainty, scenario planning, risk assessment, strategic responses, and integration of risk management with organisational strategy.

Session 3:

Operational Risk Management (1)

Operational risk identification and assessment, business processes, people and systems risks, supply chain and business continuity risks, operational controls, risk mitigation strategies, and monitoring operational performance.

Session 4:

Risk Assessment & Decision-Making (1)

Risk probability and impact, risk assessment techniques, risk matrices, expected values, decision trees, sensitivity analysis, scenario analysis, and applying quantitative and qualitative methods to business decisions.

Session 5:

Financial Risk Management (1)

Financial risk categories, interest rate risk, currency risk, liquidity risk, credit risk, market risk, financial instruments, risk measurement, and strategies for managing financial exposures.

Session 6:

Risk Response & Mitigation (1)

Risk response strategies including avoidance, reduction, transfer, acceptance, and exploitation, risk mitigation techniques, insurance, diversification, hedging, contingency planning, and evaluating the effectiveness of risk responses.

Session 7:

Internal Controls & Risk Management (1)

Internal control frameworks, control objectives, preventive and detective controls, control weaknesses, segregation of duties, monitoring controls, fraud risks, assurance, and the relationship between internal controls and effective risk management.

Session 8:

Governance, Compliance & Emerging Risks (1)

Corporate governance and risk oversight, regulatory and compliance risks, ethical considerations, stakeholder expectations, technology and digital risks, cybersecurity risks, emerging risks, and the role of boards and senior management in risk governance.

Session 9:

Integrated Risk Analysis & Strategic Application (1)

Integrated analysis of strategic, operational, financial, and emerging risks using business scenarios, risk prioritisation, risk interdependencies, scenario evaluation, strategic responses, risk reporting, and practical decision-making.

Session 10:

Integrated P3 Revision & Exam Preparation (1)

Comprehensive revision of P3 concepts, integrated case-based risk analysis, quantitative and qualitative practice, risk assessment and response scenarios, governance and control questions, mock questions, exam techniques, and final examination preparation.

Learning Methodology

Berkeley's CIMA P3 preparation combines risk-management theory, practical analysis, strategic application, and examination practice. First, candidates develop a structured understanding of risk identification and assessment. Next, they apply risk concepts to financial, operational, strategic, and governance scenarios. Furthermore, regular case-based practice strengthens evaluation, judgement, and risk-response skills.

Risk Identification: Identify strategic, operational, financial, and emerging risks within business environments.
Risk Assessment: Evaluate probability, impact, exposure, and interdependencies using appropriate techniques.
Risk Response: Compare avoidance, reduction, transfer, acceptance, and other response strategies.
Financial Risk: Analyse currency, interest rate, liquidity, credit, and market exposures.
Internal Controls: Assess control frameworks, weaknesses, monitoring, and fraud-related risks.
Exam Preparation: Apply risk concepts through scenario-based questions, timed practice, and mock assessments.

Lectures

CIMA P3 lectures focus on how organizations identify, assess, and respond to uncertainty and risk. First, candidates establish the foundations of enterprise and strategic risk management. Next, they examine operational, financial, governance, compliance, and emerging risks. Finally, integrated sessions connect risk analysis with strategic decision-making and examination requirements.

Practice Session

CIMA P3 practice sessions develop the ability to apply risk-management techniques to realistic business situations. Candidates analyse risk scenarios, assess probability and impact, evaluate controls, and select appropriate response strategies. In addition, these exercises strengthen quantitative reasoning, risk judgement, and strategic decision-making.

Mock Examination

CIMA P3 mock examinations provide structured practice across enterprise, strategic, operational, financial, and emerging risk topics. First, candidates complete risk-based questions under realistic time conditions. Next, they review their responses to identify knowledge gaps and calculation errors. Furthermore, repeated mock practice improves question interpretation, time management, and risk-based decision-making.

Berkeley Middle East Performance Standards

Evaluates and ensure the quality of the training program and all its deliverables. This is measured through the following indicators:
‣ Instructors' experience and style in presenting and explaining topics.
‣ Variety and balance of teaching methods (such as discussions, case studies, mock exams and videos) used in the course to ensure retention and to match the learning objectives.
‣ Level of interactivity.
‣ Feedback from program participants
‣ Full compliance with Institute standards and guidelines for preparation and study requirements and methodology.
‣ Progress reports from the training program provider.

What are the Exam Information?

Exam Information	Details
Exam Format & Duration	CIMA P3: Risk Management is a 90-minute, computer-based Objective Test. The assessment is computer-marked and uses a range of question formats.
Exam Dates	P3 is an on-demand examination, so candidates can schedule the assessment throughout the year rather than waiting for a fixed examination window.
Passing Criteria	Candidates must achieve the required CIMA pass standard for the P3 Objective Test.
Historical Pass Rate	CIMA reported a 63% pass rate for P3 for sittings throughout the year. This is a historical performance statistic and not the passing requirement.
Exam Locations	Candidates can take P3 at participating Pearson VUE assessment centres worldwide or, where available, take the examination online. CIMA states that it has nearly 6,000 Pearson VUE centres worldwide.

Success Stories

“As a strong advocate for education and human development, I commend Berkeley for its exceptional commitment to empowering future leaders. The institution stands as a symbol of excellence, innovation, and opportunity. Students who walk its halls are nurtured with knowledge, values, and vision—qualities that contribute to building a stronger and more prosperous future for our nation.”

- H.H. Shaikh Khalifa Al Hamid

Alumni Benefits

‣ Exclusive Networking Events: Access invitations to industry-leading events and thought-leadership gatherings featuring renowned speakers.

‣ Monthly Updates: Stay informed with a newsletter highlighting the latest research, events, and activities from the school.

‣ LinkedIn Community Access: Join the Executive Education LinkedIn group for networking and professional development opportunities.

‣ Educational Discounts: Enjoy a 20% discount on open-enrollment programs and access to workshops focused on emerging trends.

‣ Global Alumni Network: Connect with a diverse alumni community through the Berkeley School’s online network and engage in country and interest groups.

Visit Our Alumni

Is It Worth the Investment?

CIMA P3 can strengthen the risk-management capabilities required in finance, governance, compliance, internal audit, and strategic management roles. In particular, the program develops skills in risk identification, assessment, financial risk, internal controls, and strategic risk response. Furthermore, these capabilities can support professionals as they take on more complex risk-related responsibilities.

Progression Route:

CIMA P3: Risk Management forms one of the three Strategic Level Objective Tests alongside E3: Strategic Management and F3: Financial Strategy. After completing the required Strategic Level assessments, candidates progress to the Strategic Case Study. Subsequently, meeting the applicable practical experience requirements supports progression toward the CGMA designation.

What You Earn

You will get a certificate of completion, which is highly reputed and accepted by employers.

Professional Growth

CIMA P3 develops stronger professional judgement by requiring candidates to identify uncertainty, assess potential consequences, and evaluate appropriate risk responses. Moreover, these capabilities support continued development in risk management, governance, compliance, finance, and strategic decision-making.

Career Advancement

P3 knowledge can support progression into roles involving risk management, internal audit, governance, compliance, financial risk, and strategic planning. As responsibilities increase, the ability to evaluate risk exposure and recommend appropriate responses can help professionals contribute more effectively to organizational decision-making.

Flexible Learning

P3 preparation can be organised around professional and academic commitments through a structured combination of lectures, risk-analysis exercises, revision activities, and examination practice. Therefore, candidates can maintain a consistent study routine while developing the analytical skills required for the assessment.

Related courses

CIMA - Chartered Institute of Management Accountants

The CIMA qualification is a globally recognized certification in management accounting, focusing on business strategy, performance management, and financial decision-making.

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CIMA BA2: Fundamentals of Management Accounting

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CIMA BA3: Fundamentals of Financial Accounting

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CIMA BA4: Fundamentals of Ethics, Corporate Governance and Business Law

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CIMA E1: Managing Finance in a Digital World

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CIMA P1: Management Accounting

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CIMA F1: Financial Reporting

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CIMA Operational Case Study

The Operational Case Study applies CIMA knowledge and skills to realistic business scenarios, assessing learners' ability to analyze information, make decisions, and provide practical business solutions.

CIMA E2: Managing Performance

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CIMA P2: Advanced Management Accounting

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CIMA F2: Advanced Financial Reporting

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CIMA Management Case Study

The CIMA Management Case Study integrates E2, P2, and F2 knowledge, assessing learners' ability to apply management accounting, performance management, and financial reporting skills to realistic business situations.

CIMA E3: Strategic Management

E3: Strategic Management develops advanced skills in strategic analysis, leadership, business strategy, organizational change, and long-term decision-making.

CIMA F3: Financial Strategy

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CIMA Strategic Case Study

The CIMA Strategic Case Study integrates E3, P3, and F3 knowledge, assessing learners' ability to apply strategic management, risk management, and financial strategy skills to complex business situations.

FAQ: CIMA P3: Risk Management

What is CIMA P3: Risk Management?

Who should study CIMA P3: Risk Management?

What topics are covered in CIMA P3?

What is the format of the CIMA P3 exam?

Is CIMA P3 an on-demand exam?

Where can I take the CIMA P3 exam?

What are the prerequisites for CIMA P3?

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What comes after CIMA P3?

Can CIMA P3 help with career progression?

Does Berkeley offer CIMA P3 preparation?

BERKELEY SCHOOL OF BUSINESS, ARTS & SCIENCES

CIMA P3: Risk Management

Overview

CIMA P3 Risk Management study roadmap

Table of contents

Offered By

Members

Vision & Mission

What is the eligibility?

Who can do?

Lecture plan

Session 1:

Session 2:

Session 3:

Session 4:

Session 5:

Session 6:

Session 7:

Session 8:

Session 9:

Session 10:

Learning Methodology

Berkeley Middle East Performance Standards

What are the Exam Information?

Success Stories

Alumni Benefits

Is It Worth the Investment?

Progression Route:

What You Earn

Professional Growth

Career Advancement

Flexible Learning

Related courses

The CIMA qualification is a globally recognized certification in management accounting, focusing on business strategy, performance management, and financial decision-making.

FAQ: CIMA P3: Risk Management

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