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Default Nesting IF or IF

Hi

Hoping someone can help. I want advise on how to nest IF or alternative way
to get the formula to work.

I want a formula that will say if A1 - P2, and outage time is greater then 2
hours, then failed SLA, if less then 2 hours then Met SLA, or If A1 = P1, and
outage time is greater than 1 hour then failed SLA, if less then 1 hour them
Met SLA. is this posible

A1 B1
Priority Outage time
P2 00:16
P1 02:20


 
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