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COBOL to Java/C# - Comparison of Approaches

Pros and Cons of Business Rule Exctraction, Modelling tools, Auto-translations

There are many advantages in moving old COBOL applications to Java. The purist development teams will always argue the best technical solution would be to rewrite the application. But at what cost is that path justifiable? Are such project successful? What is the path which offers the most predictable outcome (cost, risk, maintainability of the target). Does size of the application matter (Smaller applications more suited to one approach, larger ones more suited to other approaches).
We come across organisations which follow all different paths. Here is what I've learned.

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