The (grand) piano action is the mechanical component of a piano and consists of some 10,000 parts. A piano is made up of a harp and a mechanism that strikes the strings on the harp, called the action. The action is made up of the keys and a system of moving parts that translates the movement of the keys into movement of hammers that in turn strike the strings. When a piano is new, the action is adjusted so that it will produce the best feel and response that the piano is capable of.
Over time as the action wears in, the felt compacts and the hammers wear, tone and the touch of the piano may start to decline. When this occurs it is time to look at regulating the action and voicing the hammers. Depending on how far the instrument has been allowed to decline this job may take just a few hours or a few days.