QUOTE(Pixelcrafter @ May 14 2009, 12:03 PM)

Dear Musician Friend,

"Dear Musician Friend" ??? That is like the opening line of those eMails I get from Nigeria offering me a share of billions of dollars. Are you auditioning for a career composing junk mail? This is your first post. Is it a serious inquiry or a wind-up?
QUOTE(Pixelcrafter @ May 14 2009, 12:03 PM)

I am taking a grade 5 piano on the upcoming August.
I have been practicing the exam material,
however, I feel that i do not see any progress regarding my skill.
In that case one or more of the following applies
- you are not practicing the right things
- not practicing in the right way
- you have not practiced enough yet
- you are impatient, and have not waited long enough for the improvement to show
- you are aiming too high, too soon
QUOTE(Pixelcrafter @ May 14 2009, 12:03 PM)

My goal is to achieve distinction.
I fail to see why. Grade 5 is still a relative beginner's standard in the larger scheme of things. In the long run it makes no difference what mark you get. It is just setting yourself up for disappointment to set your heart on a Distinction. To pass is an achievement, to gain a merit is very creditable, to achieve distinction is a bonus. If you really really want near-certainty of a distinction at Grade 5 you need to be a good enough player to pass Grade 8. And if you are that good, why not just take Grade 8?
QUOTE(Pixelcrafter @ May 14 2009, 12:03 PM)

Therefore, I need advice on :
how should I organize my time to practice each module (scale, arpeggio, pieces ) ?
As I completely have no Idea of the practice guide on the ABRSM web (top tips for practice)
which say that, "Always work to a plan", "Know what needs to be achieved in each practice time",
so , How should I make my plan?
This is something your teacher should be helping you with, not strangers on a web forum, who have never heard you play, and know nothing about you (age, intelligence, capacity for co-ordination, background, previous experience, present standard, personal circumstances ...) . If you don't have a teacher my advice is get one. If you do have a teacher, and they are incapable of helping you with these matters then my advice is to find a different (better) one.
If, for some reason, that is not possible, then the excellent book "Improve Your Piano Playing" by John Meffen will set you on the right path.