1) Creat site in sharepoint
2) All data will come from the external database instead of list
3) Report data will be captured by BCD/BCS connection in sharepoint 2010 and display the report link in sharepoint content editor webpart or custom webpart .
4) Export the reports in excelsheet using entity from the context , No heavy code ffrom the webpart .
Most of dynamic data will retrive from the context.
5) Time sheet management system should be there in the project , dont worry its not big and complex . We will provide you the our old site (c#) code for this.
6) Site should have custom html search box instead of sharepoint search (get and post methods its will redirect to my old site people search)
If you want this apportunity then please let me know how to implement html search in sharepoint 2010 using multiple form tag in sharepoint master page.