But when you're planning a mission, or deciding to launch, "Failure is not an option" is a recipe for inaction, and caution, and failure by not performing the mission.
Get a vehicle ready to fly. Calculate the LOC probability. Evaluate the importance of the mission. Inform the crew of P of LOC. Decide whether the risk is worth the mission value.If it is, fly. If not, try to improve odds.
Sure. We flew with that possibility every single flight in the 60s. On Apollo 13, it came very close to happening. But it didn't keep us from flying.
Why not? Because it was important.