Reverse Engineering:
A method of recreating software system components for which the source code is missing, out of date, or is otherwise not in agreement with existing components. Disassemblers and decompilers are examples of Reverse Engineering Tools.www.users.qwest.net/~dssecor/y2k_glos.html
The process of analyzing an existing system to identify its components and their interrelationships, and to create representations of the system in another form or at a higher level of abstraction (Dictionary.com).
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Re-Engineering:
Reanalysis and radical redesign that is not bound by previous obsolete solutions. (Contrast TQM - incremental improvement) info.louisiana.edu/dept/glosr.html
Coined by management guru Michael Hammer, it's a quality improvement tool: start from scratch, question assumptions, and radically redesign what people do and how they work.www.trillium.org/glos_med.html