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underestimation
This term carries a strong connotation of error or failure, often implying a lack of foresight or a misjudgment of risk. It is frequently used in professional, strategic, or competitive contexts—such as business, politics, or sports—to describe a mistake that leads to an unfavorable outcome.
While it can describe a simple mathematical error in quantity, it more commonly refers to a psychological or strategic blind spot regarding a person's skill or a problem's complexity. It is the direct semantic opposite of overestimation, though underestimation is typically framed as more dangerous because it leads to under-preparation.