Editing for this Dummy :)

It is a process for all of that.  It too has a beginning, a middle, and an end.  It helps to have a "Plan of attack."  My first salvo, is to reread the first ROUGH draft.  Just read, no writing anything down, or editing yet.  Then a second re-read I do make notes of the obvious flaws (timeline, keeping the characters names straight).
Next I do the actual outline phase.  This way, I know the way I want to make the story look.  This will be the structure.  For my latest editing foray, I have started chapter 1 4 years after the prologue.  So I did some notes of what transpired in those four years.  The outline functions as a timeline as well.
Plan A was to follow the original draft, fixing the errors.  But I had a huge timeline issue, you could drive a military grade Hummer through.  Actually more like a tank!  So I came up with plan B, which was to have Chapter one begin 10 years after, with the 2nd main character Lucy, fighting to keep her mother alive, to keep her on life supporting feeding.  And it would have fixed the novel somewhat, but then the 3rd main characters would have been screwed.
Why three main characters?  Well, Lucy and Janice would have been secondary, until I realized that they were too strong to be anything but main characters in their own rights.  So it is working out well from that standpoint.  But I'm having to make sure the timelines mix well.  Hence, going back, in some aspects, to be more true to the first draft.
Once that is done, then I make sure that the character names and facts are straight throughout.  Or you have no going against what you has come before.
Finally punctuation, grammer, the nit picky little details that we all hate to have to work with, but make all the difference in comprehension.
Now should everyone follow my way...if it works then yes.  If it doesn't, then take what you need, or move it around so it works for you.  It seems more time consuming, and it is...but it is the way I work most of my editing...but ymmv.