"hope for the best and plan for the worst." – My favorite alternative though not strictly equivalent formulation is "Limit worst-case damage, maximize best-case

"hope for the best and plan for the worst." – My favorite alternative though not strictly equivalent formulation is "Limit worst-case damage, maximize best-case benefit". Like, bring scenarios that you truly cannot afford as close to 0% probability as you can while leaving freedom for pursuing unexpected positive opportunities. Good approach to decision making in general, sensitive to black swans though (what isn't?).