Severity
-impact of a failure caused by this fault
Priority
-urgency to fix a fault
Examples
-minor cosmetic typo
-crash if this feature is used
It is useful to distinguish severity and priority, because they are different aspects. Severity is related to the impact of a failure caused by a fault. Priority is related to the urgency of fixing a fault. For example, if a fault is holding up a series of automated tests, it could have high priority even if the impact on the user is low.