Subject Business Project Management

Question

Risks in projects and risks in project portfolios have both similarities and differences.
What are the differences and similarities between risks in projects and risks in project portfolios?
Would you address risks the same way with each?
Is avoiding risks better than mitigation and/or transferring the risk? When and why?

Solution Preview

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Projects refer to the set of activities that are undertaken to achieve a specific goal. On the other hand, project portfolio refers to all the projects that are implemented by the organization so that it can obtain its vision. Thus project portfolios represent the superset of which the projects are like a subset. Every project is unique and the same is applicable to projects in the portfolio also. However, there are some similarities also in terms of project risks....

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