Munckfish.net

‘Triage‘ is a medical term for the process which happens in an emergency of sorting out who will die no matter what, who will need help so they don’t die, and who will be fine whether you help them or not. ‘Bug Triage‘ is a process in software engineering to sort out which bugs will be fixed now, which wil be fixed later, and which won’t be fixed. In addition to this each bug must be assigned a severity (a technical metric), and a priority (a business metric).

This is of course a rather general description. A good clear description can be found here: Bug Triage Meeting - Severity & Priority. Erik Sink has posted on his bug triage process here: My life as a Code Economist.