Under Issues, Details, there's field named "Priority".
** Is there a possiblilty to change the field name to "Severity" instead of "Priority"?
** How do I add additional field, call it "Priority" with parameters like urgent or not urgent?
You can change the general wording in Jira to match your concepts by following the stuff at https://developer.atlassian.com/display/JIRADEV/Customizing+Text
To add an additional field, quite simple - use a custom field. https://confluence.atlassian.com/display/JIRA/Adding+a+Custom+Field
Personally, I'd warn you against renaming "priority" to "severity" because they are two different concepts. A severity describes how bad a problem is. Priority is about what problem needs to be fixed next. For example - compare "this is a locked door" and "this reactor is going to go bang". The first issue is a low severity, the second very high. But... the first has a much higher priority because the locked door is the one that lets you into the reactor control room.
In short, I'd leave priority as it is, and add Severity as a custom field...
Personally I think Bugzilla default handling of this is quite good.
But I'm thinking of just using P1(highest) - P5(Lowest) settings for the priority.
Similar to this, https://wiki.mozilla.org/Bugzilla:Priority_System
It's easier to see the prio in a list with several issues.
Today we have this Priority setting in Jira:
An issue has a priority level which indicates its importance. The currently defined priorities are listed below. In addition, you can add more priority levels in the administration section.<dl><dt> Blocker</dt><dd>Blocks development and/or testing work, production could not run.</dd><dt> Major</dt><dd>Major loss of function.</dd><dt> Medium</dt><dd>Workaround available. But still an issue that can cause inconvenience. Should be resolved.</dd><dt> Minor</dt><dd>Minor loss of function, or other problem where easy workaround is present.</dd><dt> Trivial</dt><dd>Cosmetic problem like misspelled words or misaligned text</dd><dt> Unknown</dt><dd>The priority is unset(Default value). Either unknown or lazy set to default.</dd></dl>
So I'm thinking of Changing the name Priority (above) to Severity and use Priority parameter for P1-P5 instead.
I wouldn't bother. The priority is a more important field than severity for classifying issues, and you'd be better off simply adding "Severity" as a custom field.
Priority, as implemented in Jira, has a load of functionality around it that doesn't really apply to severity levels, so you'd be losing potentially useful prioritisation functions.
Think through how the two fields are used (I won't repeat what I wrote before, it's still a good example of why priority and severity are both important, but different)
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