Threshold RPN is the maximum Risk Priority Number (RPN) below which the risk is considered as acceptable. Any process step having RPN above this threshold needs to have an action plan for reducing the risk.
Action Priority (AP) denotes the priority in terms of implementation of recommended actions in an FMEA. It is based on a combination of ratings of S, O and D.
An application-oriented question on the topic along with responses can be seen below. The best answer was provided by Dimas Campos de Aguiar on 19th Oct 2020.
Applause for all the respondents - Sudheer Chauhan, Dimas Campos de Aguiar, Sanat Kumar, Shivashish Chaturvedi, Glory Gerald.
Also review the answer provided by Mr Venugopal R, Benchmark Six Sigma's in-house expert.