“Perceived Penalty for a Miss” is a psychological factor that may affect your balance of speed & precision. That is how we at I.C.E. Training Company talk about the psychological factor that could cause you to hesitate to take a shot that you absolutely can make in a defensive shooting situation. Worrying about missing might also (appropriately) cause you to slow your shooting down or chose not to take a shot at all if the penalty for missing is high enough.
All shooting is a Balance of Speed & Precision, but this factor that affects the speed with which you shoot is much less of an issue in competition shooting where choosing not to take a shot isn’t really an option. In the Worlds Collide video series, Rob Leatham and I have explored and discussed the many differences and the overlaps of Competition & Defensive training communities. This video from Personal Defense Network addresses the issue of perceived penalty for missing a shot. Check it out and see how I choose to handle the scenario that the Leatham describes for me with varying degrees of penalty for missing.