What happens if you fail an outcome? (Studio Arts)

[odeaa]

yeah so as the title says, my folio is due tomorow and im doing a photorealistc oil painting so there is no way i can physically finish it. also i havent started my second final, and ive only done 2 pages of my folio. what happens if you get a N for an outcome? are you completely fucked, or can i still get a raw 15 or something (thats all i'm aiming for ahaha, studio is just for fun)

[odeaa]

Anyone? Wanna know whether I really need to pull an all nighter, considering it will mess me up for a few days of study