die Achtung
respect
A feeling of respect, appreciation, and recognition toward a person, an achievement, or a thing.
Er genießt hohe Achtung bei seinen Kollegen.
He enjoys great respect among his colleagues.

respect / attention
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respect
A feeling of respect, appreciation, and recognition toward a person, an achievement, or a thing.
Er genießt hohe Achtung bei seinen Kollegen.
He enjoys great respect among his colleagues.

'Die Achtung' is the noun corresponding to the verb 'achten'. The verb can mean both 'respektieren' (to respect) and 'aufpassen' (to pay attention/be careful), which explains the different meanings of the noun.
Man sollte die Regeln achten und ihnen Achtung schenken.
One should respect the rules and show them respect.
You can recognize the meaning from context: As the exclamation 'Achtung!' it is a warning. In the expression 'außer Acht lassen' (to disregard), it means 'ignorieren' (to ignore). In combination with verbs like 'haben' (to have), 'genießen' (to enjoy), or 'zollen' (to pay/show), it means 'Respekt' (respect).
Er hat große Achtung vor seiner Lehrerin.
He has great respect for his teacher.
When 'Achtung' means respect, it is often used with the preposition 'vor' and the dative. Typical verbs are 'Achtung haben vor' (to have respect for), 'jemandem Achtung entgegenbringen' (to show someone respect), or 'Achtung zollen' (to pay respect).
Ich habe große Achtung vor seiner Leistung.
I have great respect for his achievement.
As a warning, 'Achtung!' is often used on its own as an exclamation or on signs. It is always accompanied by an exclamation mark.
Achtung! Hier fahren Züge.
Attention! Trains pass through here.
The expression 'außer Acht lassen' (to disregard) is a fixed phrase. The object that is being ignored usually comes in the middle of the expression.
Wir dürfen die Kosten nicht außer Acht lassen.
We must not disregard the costs.
attention
'die Aufmerksamkeit' and 'die Achtung' both have to do with noticing and appreciation, but they are used differently. 'Aufmerksamkeit' often means that you concentrate on something, or it can also mean a small friendly gesture. 'Achtung' usually means respect for a person, an achievement, or a thing. As an exclamation, 'Achtung!' is used to warn someone to be careful or to draw their attention to something important. Learners may confuse the words because both occur in situations where someone is taken seriously. As a practical rule: for concentration, use 'Aufmerksamkeit'; for respect, use 'Achtung'.

Bei der Arbeit zeigt er viel Achtung vor den Erfahrungen seiner Kollegin.
At work, he shows great respect for his colleague's experience.
Die Ärztin schenkt dem Kind ihre volle Aufmerksamkeit.
The doctor gives the child her full attention.