It's very certain that both of them are extremely painful, more especially you taking risks and it ending in great jeopardy or loss I think this is more painful that's because you had much hope in that project, and just like it's said you can't make an achievement without taking risks, sometimes the level of risks taken may determine the outcome or not but yet that feeling of doing something and believing it worth taking such risks and at the end get a loss or no results it's more devastating than anything else.