It’s a student project in which they’re probably supposed to be approaching it from a business perspective anyway.
In which cases they’re pretty much normal titles. “Director of” is usually a non profit title while the equivalents in this case would be “COO (Chief Operations Officer)” for director of operations. Executive director would be CEO. And then you have usual VP level titles with IT Director and Engineering Director. And then you have two engineers, a mechanical engineer and electrical engineer.