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Software Reengineering
According to IDC, Ernst & Young, European Information Technology Observatory, and other world leading analysts, the volume of the Russian offshore software development market varies up to $300 million for 2002, which shows the annual market growth of 30-50%.
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Glossary | Software Reengineering         
Glossary

Software Reengineering
The examination and modification of a system to reconstitute it in a new form and the subsequent re-implementation of the new form.
The examination and alteration of an existing subject system to reconstitute it in a new form. This process encompasses a combination of sub-processes such as reverse engineering, restructuring, re-documentation, forward engineering and re-targeting.
Also known as renovation and reclamation. It is the examination and alteration of a subject system to reconstitute it in a new form and the subsequent implementation of the new form.
Reengineering is the systematic transformation of an existing system into a new form to realize quality improvements in operation, system capability, functionality, performance or evolvability at a lower cost, schedule or risk to the customer. Reengineering also emphases the importance of a greater return on investment than could be achieved through a new development effort.

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