It should work, but you'll want a backup.
I call my environments Dev, QA, and Production. Defined as follows:
Dev -- One or more environments dedicated to testing upgrades, fix packs, scripting, configuration, tuning, customization, etc. Only Analytics Administrators can use.
QA -- For testing changes to models and databases, familiarizing data subject experts/data stewards/BI leaders with new Cognos versions and features. Can be used by everyone, but only those concerned with new features are invited to use. Data is usually not current, so this is not intended for production use.
Production -- Used by all users for everyday work.
Is your lab for users to "kick the tires", like my QA environment?
So how did your dev upgrade go?
At a minimum, you should be able to restore the entire database to a staging area, then migrate only the appropriate schema into the real database.
Talk to your DBA. I can't imagine your DBA would have created that architecture without the flexibility to perform restores separately.