Which term most closely matches the description: any real or potential condition that can cause injury, illness, or death to personnel; damage to or loss of equipment or property; degradation of mission capability or impact to mission accomplishment; or damage to the environment?

I believe the answer is: Risk assessment

In risk assessment, analyst would rely on both quantitative and qualitative data in order to determine the potential threat that might be face after choosing a certain decision.

For example, before deciding to open a lumber company, things such as potential worker's accident, environmental damage from the operations and the actions made by competitors should be considered as risk assessment.