If project 1 has an npv of 3 million dollars and is very risky......?

Question

and project 2 has an npv of 2.5 million as is very
safe. Which project would be recommended and explain why?

Answer 1

The answer depends on the ammount of risk the investor is willing to accept.
The level of risk is determined by the standard deviation of the ammount to receive: by how much the ammount received will change. Risky = 3 million + or - 2million(ex)
Ex: If you are told to receive 3 million in a risky environment you might onlyreceive 1 million due to the riskiness, and the 3 million is not that worth it.
But if you receive 2.5 million in a very safe enviromnent you're pretty sure to receive it. since the standard deviation should be small...
I would chose project 2 since the difference in NPV is not that big and you have more chances of getting 2.5 than 3 mill.

Answer 2

What is NPV???
I relate this to common stock of "Non Par Value" meaning the stock share doesn't have a redeemable price attached to it.

If this is the meaning of NPV, it means nothing, and you have 2 projects, one worth 500,000 more than the other.
But nothing to indicate if either is worthwhile. I can't see anyway of evaluating your question.