Priority & Severity

Priority: How important to fix the bug & it will be change according to situation.
P1- High-- No work around is possible. (Menu- New if not possible , need to fix immediately)
P2- Medium-- Before release we need to fix, work around is possible.
P3- Low-- If we have time, it will fix, otherwise it should move to deferred status.

Severity: How bad the bug is and impacts all the application. (OR) How serious the defect.
S1- Critical-- System crash (Data loss)
S2- Major-- Wrong result, loss of functionality (Like in calculator missing +, _, *, %,..)
S3- Medium-- Miss Spelled
S4- Minor