One of the key decisions while handling a business portfolio is to take the most balanced trade-off, the knowledge of what not to do is much more important that the allocation of resources in new projects or unlinked diversification. Risk assessment covering factors like correlations of impacts, competitive landscape and core competency, etc. helps us in maintaining a balanced Portfolio, to minimize the risks, and to lay a path for developing new core competencies. Diversification, Forward/ Reverse Integration are all common ways to build up the core competence