Reverse engineering is the process of analyzing an existing product to understand its design and recreate the product. It involves digitizing a physical part to create a 3D CAD model without original drawings. Reverse engineering was used to recreate the design of a crankshaft, which involved measuring dimensions, tracing profiles, scanning with a CMM, parameterizing the profile, and creating a 3D model in ProE. The process allowed for recreating technical drawings and models without original documentation.