Is this really that bad?

[Chris Bell]

Ok, I have a question.
First, the explanation.
I am a student at a large university here on the west coast. Last semester I took a class titled "Select Problems in Financial Managment". In this class the final project was to put together a presentation that was meant to be a pitch to a VC or other funding source. As a part of the project we had to put together a complete business plan, complete financial projections for the first 12 months and yearly projections for the first 5 years. We had to do the Income statement, balance sheet, statement of owners equity, and cash flow statement, we also had to estimate free cash flows for the first five years and do a valuation estimate.
Now skip forward to this semester, I'm taking a course called "Small Business Finance" and the big project is to do the exact same thing, again. Last semester the project was done with a group of three people. All three members of last semesters group are together again this semester in this class. After we had done the presentation last semester and had a chance to see how other students did their projects we saw some areas where we could have improved.
Now the question...Would it be wrong to recycle last semesters project for this semesters class? We have been discussing it and we would like to make the changes to the presentation that we had talked about last semester and then just do it again. What do you think?