Final answer:
The voluntary process of external review and recognition for programs meeting predetermined standards is called Accreditation, which is essential in fields like health and engineering.
Step-by-step explanation:
The term for the voluntary process by which an organization performs an external review and grants recognition to a program or health care facility that meets its predetermined standards is Accreditation. This process is common in various fields, including health, education, and engineering. For example, engineering programs are often accredited by organizations such as ABET, which in 2007 accredited more than 2,700 programs in engineering, technology, applied science, and computing. The Accreditation serves as a 'stamp of approval', signifying that the reviewed program meets standards for quality processes, sufficient resources, and an appropriate curriculum that adheres to the accrediting body's requirements.