I had a hard time wrapping my head around how threat, position, and effect all played into each other, so I made this visual reference to help keep track of it. We just used coins or other tokens to track each one as we played. It was helpful for myself as the GM, and as a tool for the players to visualize it.
I hope it can be just as much of a help to you and your table, as well.
If there’s any inaccurate information on there, let me know and I can adjust it. My understanding of the rules is certainly not perfect.