This is a weird test.
You have a fixed time, fixed goal and fixed resources. Nothing there is flexible. There is no decisions to be made here. You are not a project manager, you are a project statistician.
You can make the boards and graphs showing progress, but in the end, it's like a movie. It will play. It will either have a happy end or not. But none of it is actually of your making, you are the viewer, seeing a play unfold written by whoever set those fixed guidelines.
I am not saying it's unrealistic, because I have seen setups like this. But if it were a real company, it would be time to get a new job. This is not project management, it's project viewing. With the added disadvantage that you will likely be held accountable for the outcome of the movie or project. Which in any movie would be ridiculous, but not in project management by clowns. And there are too many clowns out there thinking they can manage projects from above and employ a "project manager" with no decision making power, simply to take the blame when the plan fails.
So the real world advice would be run!!!. But this is not the real world.
Grab your textbook. Do what it tells you to do in this case. Hand in the test and forget about it as soon as possible. This does not teach you anything except that the real world is sometimes full of clowns that you need to dodge.