Regression analysis is not known to feature within the ambit of project investment appraisal mainly due to the univariate nature of the cash flows employed which is a major divergence from the usual outcome and predictor(s) bi or multivariate analysis involved in normal regressions. This study uses a variant of the regression analysis which converts a univariate data set to a bivariate regression using the population mean as a pivot. Mean Relative Regression (MRR) has been used with many variations and diverse interpretations. This study distinguishes, explains, and introduces the application of MRR to investment projects’ proposal analysis. Six sample projects were analyzed using the Discounted Cash Flow (DCF) technique and further evaluated for risk of non-realization the MRR. The findings showed that the risk levels outlined by the MRR which were also validated with a t-test at the 95% confidence level revealed a well-ordered project viability ranking in consonance with the projects’ break-even points or Internal Rate of Return (IRR). The paper recommends the inclusion of MRR in investment projects’ appraisal to facilitate project risk prediction and appropriate risk inclusion into project appraisal discounting rate.