As truely mentioned by one of our friends,
Impact states 'Business impact' of the incident. Urgency is 'how much urgent
this issue is, from requester's perspective'.
Priority is combined factor of these two.
As per ITIL process, impact and urgency decides the priority.
Theres a matrix between impact and urgency dwhich decides prioirty value.
This is very much visible in Incident Management 7.x application where
Request & Impact sets down Priority value.

Elinore AR wrote:
> 
> Hi all, I know this is a silly question but can someone clearly define
> the differences between Impact, Urgency and Priority in Incident Form
> and how do you actually use them? (i.e. can there an Incident with
> Urgency = Critical but have Priority = Low?)
> 
> TIA.
> 
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