Great lab to introduce the engineering design process. This lab can be used to develop group problem solving skills, introduce or reinforce Newton's Laws, or to apply basic math concepts such as ratios; there are unlimited applications to NGSS and CCS.
I have allowed the PowerPoint to be modified by you so that you can insert your own names and pictured. Students love that.
I also suggest adding a requirement that groups create a chart to keep track of the materials purchases and the cost. They can then calculated an efficiency ratio by diving the total cost by the grams lifted. This would be a great comparison tool.