Hi Peter:
Individuals outside your organization should not be making these kind of decisions. That said, my advice is to analyze what information and skills the student is supposed to accomplish at completion. From there, I would suggest you look at which components contribute most to identifying the student has attained the desired proficiency. From there, you should be pretty close to defining your component weights for the class. Many times, there is a trial and error aspect to grading systems. You might have to experiment a little to find the right balance, one you're satisfied with.
Regards, Barry