I've had plenty of classes that worked that way. CS228 at Stanford has weekly quizzes; CS148 has weekly projects (and two exams). 154 has weekly problem sets

I've had plenty of classes that worked that way. CS228 at Stanford has weekly quizzes; CS148 has weekly projects (and two exams). 154 has weekly problem sets (as well as two exams). 221 has 4 projects and 4 problem sets and a midterm. And so on.