Which of the following highlights this difference?

Managing risk is key to the success of any initiative. Risk is considered to be inherent in any activity we do in project management and at any level. Risk is part of project, program and portfolio management and has a different exposure in each and every one .

Which of the following highlights this difference?
A . Project and Programs risks are combined in order to develop the portfolio risk register as an aggregation of both
B . Risks at project and programs level can be eliminated, but not at portfolio level
C . Portfolio risks are inter-components risks, while program and project risks are not
D . Project and Program risks are risks within the boundaries of the project or program, while portfolio risks can span the organizational level

Answer: D