Appollis missed both legs of Pirates' CAF Champions League tie against African Stars after sustaining an injury in their recent league encounter with TS Galaxy.
The Bafana Bafana international has since returned to training, raising hopes that he could be available for selection when the Buccaneers face Galaxy again in the Carling Knockout last-16 clash at Orlando Amstel Arena on Tuesday.
However, Ouaddou says the club will carefully assess the winger's fitness before making a decision, with Pirates keen to avoid aggravating his injury at a crucial stage of the season.
"Look, I'm happy that he is back in training. Thursday's target was to assess him and see what he is able to do. We started with the warm-up to see whether he could sprint, so it is good news," said Ouaddou.
"I spoke with him at the end of training, and he told me that he no longer feels any pain.
"At the same time, you have to understand that Oswin is a very important player for our team. I call them all Ferraris because they are all Ferraris. You have to take good care of a Ferrari's engine, and I don't want to take any risks with one of our important players.
"We have many important games coming up, as someone mentioned, so we have to be careful and not rush the process."
Appollis has become an important figure in the Pirates attack, and his potential return would provide a boost as the Soweto giants prepare for a demanding run of fixtures across domestic and continental competitions.