How to setup prior and likelihood function for the following

Question is to decide for maximizing the marks by allotting time to the two electives
Given: We know about the instructor, his grading pattern and subject difficulty

one elective has one mid sem exam and final exam whereas in another we have 4 projects, 1 home assignment/ exam.

how to go about setting the problem. if we know number of members in the project, how my decision will change.

if final target is not maximizing marks, and to learn from subject, how problem setting will change.