Virtualization represents a class of technologies that covers a wide range of applications and implementations. Virtualization can be applied to hardware or software and the technologies within the umbrella of virtualization are growing. Some organizations are adopting virtualization technologies for the cost savings benefits, but they may not weigh the risks. Bizarro and Garcia(2013) write, “As the technology becomes more standardized, server virtualization has become more prevalent. Companies are realizing cost savings and greener computing. Virtualization may initially appear attractive because of additional capabilities and cost savings, but those benefits come with increased security risks.” (p. 11). As the idea of virtualization grows, so does adoption, and new improvements and virtualization technologies are emerging. Every emerging virtualization technology or innovation, however, has pros and cons or benefits and risk. Many of the emerging virtualization technologies represent an implementation challenge for project managers and implementers. This research paper will be focused on emerging virtualization technologies, implementation success factors, and virtualization risks.