Other forms: circumspections
Circumspection is the quality of being cautious and prudent. If you don't immediately get excited about a party invitation, instead taking some time to consider whether you want to go, that's your circumspection in action.
Circumspection is generally a good characteristic, keeping people from making bad decisions. Your friend's circumspection makes her a great source of advice, someone you can trust to provide a considered opinion after a lot of thought. But circumspection can also slow you down if it means you're always scared of making a mistake. This word is rooted in the Latin circumspicere, "to look around."