Thank you very much for your reply, Chad.
Actually, I wanted to avoid Setting up the portfolio page as a front page, but to show just Project types (i.e. not the whole Portfolio). That is why two questions came to my mind:
1.) Can the link behind the site title be changed and if yes, how?
2.) Is it possible to set up a project type URL as a front page (e.g. …wordpress.com/project-type/…)?
If both is technically not possible (for beginners :)), I will follow the steps you described in your answer and create two different Portfolio pages instead.
Thanks again!