This document discusses software engineering and the need for it compared to traditional software programming. It notes that about $140 billion is wasted each year in the US due to projects being abandoned or requiring reworks due to a lack of following best practices and standards. Software engineering involves applying systematic and quantifiable processes to the development, operation, and maintenance of large, complex software systems developed by teams over long lifespans with many stakeholders. This is in contrast to traditional programming which focuses on small, short-lived "toy" applications by individual programmers. The document outlines the basic phases of the software development life cycle (SDLC) and notes benefits of software engineering like increased quality, reduced costs and schedule, and improved manageability.