The automatic train control (ATC) system development project for the Automated Guideway Transit (AGT) system has high technical risk because the system is unmanned train control system using wireless technology which was unprecedented in train control industry of Korea. To overcome the technical risk during concept design phase of the ATC system development project, the integrated product team(IPT) carried out a reverse and reengineering process using a systems engineering design model. The generic systems engineering process is incorporated in the both reverse and reengineering process. As a result of the systems engineering effort, the IPT has built top layer systems engineering design model of the ATC subsystem. The purpose of this paper is to deliver the reverse and reengineering process which was used to develop the systems engineering design model of ATC system using a computer aided systems engineering tool. This study also shows that the model based reverse and reengineering process can reduce the technical risk by identifying the differences of requirement, functional and physical architecture between a reference system and a target system.