The word outlook describes a belief about the future. Your outlook on the awful present situation might make your outlook for the future turn grim.
The noun outlook can also mean the practice of looking out. A guard's outlook on the bank vault must stay watchful and attentive in case there's an attempted robbery. Your outlook on your first job out of college was one of promise and excitement. The word can also mean a characteristic mental attitude that determines how you will handle situations. A pessimistic outlook on life will make you see only the negative.