Many bloggers have recommended the "One Pass Method" of Holly Lisle. For details, see: http://hollylisle.com/how-to-revise-a-novel/ which tries to do everything in one fell swoop from beginning to end.
Others suggest a longer process, saying their revisions take longer than writing their first draft. Yikes! Just the idea makes me want to hyperventilate.
I'll update you on my trevails. I'm taking a breather for a few days and working on other projects.