This standard defines a systematic approach to engineering or reengineering a system/product, incorporating best practices that have evolved considerably in recent years. The systematic approach of this standard is applicable for:

• Completing corrective actions,
• Making refinements,
• Developing derivatives,
• Producing modifications,
• Updating existing products,
• Creating and realizing new systems,
• Allowing for the safe and cost-effective disposal (retirement) of a system/product.

This approach is incrementally applied in an engineering life cycle framework that can be implemented during any one or more phases of an enterprise-based life cycle (for example, during production, operations, support, or disposal). The defined approach has two premises:

• A system/product is an item that may consist of hardware, software, firmware, facilities, data, materials, personnel, services, techniques, and processes.
• The engineering of a system/product is accomplished by applying a set of processes to each element of its hierarchy by a multifunctional team of people who have the requisite knowledge and skills.