This article describes an empirical study to evaluate how the flipped learning (FL) approach has impacted a learner’s perception in attaining the graduate attributes (GAs) of five capstone project units offered at Melbourne Institute of Technology in Australia, where the authors are affiliated. The subjects include one undergraduate and one postgraduate business unit, and one undergraduate and two postgraduate units in networking. Our study is distinguished from previous research in two novel aspects. First, the subject matter concerns capstone project units which are taken by students in the final year of their degree. In these units, students are expected to apply a variety of knowledge and skills that they have acquired thus far in carrying out an industry-based project of substantial complexity. The learning outcomes (LOs) require students to apply skills and knowledge that they have learned across completed units and connect them with real-world problems. Second, the FL approach has been applied wholly in an online virtual classroom setting due to the social distancing restrictions enforced by local authorities in response to the COVID-19 pandemic. Our hypothesis is that FL has positively influenced the perception of learners in their attaining the GAs. We tested this hypothesis by using data collected by an online survey administered to the student cohorts of the five chosen units at the end of Trimester 1 of 2021. The survey, which comprised 14 questions, assesses a student’s perception of achieving the LOs through developments in three dimensions, including cognitive, affective, and behavioural, acquired in a real-world client setting. Statistical analyses of the survey data reveal that the FL approach resulted in a positive perception by students of their attaining the GAs through achieving the LOs of the capstone project units, which in turn is supported by the responses to the three measured dimensions.