This study designed formative self-assessment and peer assessment (SAPA) to help students develop oral presentation skills in a specialization course in a Chinese university. The study aimed to investigate feasible and practical principles and strategies and identify students' learning performances and perceptions of the SAPA method. Both quantitative and qualitative data related to students' performance and perception of the assessment were collected. Results showed that the formative SAPA method was feasible to help students develop oral presentation skills by providing high-quality feedback, facilitating the involvement of peer assessment, and fostering self-assessment. The results of the study showed that having multiple sources feedback, involvement of peers in assessment processes, and multiple strategies for self-reflection were crucial for developing oral presentation skills.