First, I would look at the company's system requirements and management's expectation. Second, I would meet with individual departments and find out their expectations. Third, I would create a data flow diagram, document flowchart, and/or system flowchart to determine the logical flow of data and physical dimensions of the system. From the information collected, it will be easier to decide the type of software upgrade that is the best fit for the company.
The main questions involved a series of projects and ideas that no one had time to follow up on. They asked what I might be able to do with those ideas in the time given, and how I thought they would be important or help.
I took short notes, and was able to articulate my understanding of how the department related to the company and other departments in important ways. I gave my priority on the projects and explained my reasoning, and how and why I thought each one would contribute.
Including this so that yo will know that there is a presentation, but it's not hard. Be sure that you engage the group in your presentation, because you will be engaging students and how you bring students into your talk is what they are looking for. Again, be forewarned that they may have already pre-selected a candidate.
Lucky for me, I had researched about the product and was able to make smart assumptions. After stating my assumptions and asking about other facts, I talked about the company SWOT and the product's 4Ps to reach my conclusion. They mentioned my case answer was very good.