When planning refactoring across a portfolio of 200 COBOL programs, what should be determined first?

Think of it like working hands-on with IBM mainframe systems — the answer here is 'The exact Java class names and package structure for all 200 programs before any transformation begins'. Planning the wave sequence determines which dependency clusters to tackle first based on coupling profile and business risk, enabling teams to deliver value incrementally while managing cross-wave dep. On real mainframe exams, this concept comes up repeatedly so make sure you have it locked in.