This study examined the practice of feasibility and viability studies in Uyo through a survey of a cross-section of thirty-six estate surveying and valuation firms in the area using structure questionnaire. The data gathered were analysed using frequency distribution and relative importance index. The study found that twenty-six development project failed out of the thirty-nine development projects examined. The findings also showed that development appraisal practice was not common in Uyo, since twenty-nine of the firms did not engage in the exercise frequently. It among other issues recommended mass enlightenment of the public on the benefit of development appraisal to increase the level of practice.