Severity Ranking in risk analysis (usually in FMEA) assigns a number to the effect of failure modes on the customer. It ranges from 1 to 10 with 10 being the most severe and 1 being least severe.
An application-oriented question on the topic along with responses can be seen below. The best answer was provided by Prasanna Pokhrel and Natwar Lal.
Applause for the respondents- Natwar Lal, Manjula Pujar, Vinod Shanmugham, Rowena, Praveen Kumar K, Hari Babu M, Prasanna Pokhrel, Rushi Solanki, Indrani Poddar, & Vijaylakshmi Harikrishna