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What is a Priority 1 Outage?

WHAT IS A PRIORITY 1 OUTAGE?
Within a managed service provider, the words "we have a priority 1" creates an immediate sense of urgency and a call to arms.  A priority 1 outage means a client is experiencing a loss of service.  We sit up straight and come to attention because our client has lost access to a technical service that allows them to conduct their day to day business.