There are 2 project (formally take-home exams), split into 3 parts each. Each one takes 2-4 hours and is partly done in a tutorial session.
Each question is weighted equally in each home exam, so that by correctly answering the elementary parts of each question, students can be guaranteed a passing grade. Each exam counts for 40% of the score. A 15-min seminar is also given by the students. This counts for 20% of the final score.
Criteria for full marks in each part of the exam are the following.
Documenting of the work in a way that enables reproduction.
Technical correctness of their analysis.
Demonstrating that they have understood the assumptions underlying their analysis.