Wisdom & Understanding?

Wisdom and understanding are not the same thing. But how are they related? I can understand a situation - but have no wisdom about it.

Conversely, could I have wisdom about anything which I don't understand? Many times teen-agers say to their parents, "You don't understand!" And that may be so. Would that also mean that the parents have no wisdom (about their children or the subject at hand)?

Does experience differentiate wisdom and understanding? Or maybe God is the only differentiator. How does one apply wisdom to understanding? What should one do when we have one without the other?