possibility

(noun) a future prospect or potential. Example: "This room has great possibilities."

(noun) capability of existing or happening or being true. Synonyms: possibleness. Example: "There is a possibility that his sense of smell has been impaired."

(noun) a tentative insight into the natural world; a concept that is not yet verified but that if true would explain certain facts or phenomena. Synonyms: hypothesis, theory. Examples: "A scientific hypothesis that survives experimental testing becomes a scientific theory." "He proposed a fresh theory of alkalis that later was accepted in chemical practices."

(noun) a possible alternative. Synonyms: possible action, opening. Example: "Bankruptcy is always a possibility."