Easy!
General practice as follows:
With the engine block off:
(1)disassemble all parts, inspect and replace/order if deemed out-of-spec/worm
(2)clean the block/head (steam/solvent/hot-tank, etc.)
(3)inspect the bock/heads for cracks, distortion, etc. and service them if necessary (press another new iron sleeve for alloy blocks, new valve guides, etc.)
(4) machine the valve seats and also cylinder wall (deglaze if the original ones w/n spec., machine&hone if a new one is pressed)
(5)inspect crank/camshafts for abnormal wear and such, replace/restore to proper specifications based on observations (grind crankshaft if surface imperfections occur)
Most likely you may have to get some oversized crankshaft/cam bearings(if applicable) to match the newly grounded undersized crankshafts.
(6)(back to step 4), if the original cylinder bore is to be reused/new cylinder pressed and machined, sometimes, new oversized pistons maybe required.
(7)Start reassembling everything together, taking every possible precautions during the assembling stage.New cylinder head gasket kits, ring packs, bearings, seals, water pumps, timing belt/chains, valve seals, valves(if necessary, often exhaust valves), pistons (if necessary), cam/crank bearings, etc.)
(8) RE the engine back into the car and fire it up.
(9) test drive! (check for leaks)
(10) during the test drive stage, most shops will break in the engine until smoke disappears before passing the car back to the customer.
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of course, this is just the typical RE and RE of engine (aka "rebuild"). Some shops skimp on steps, others do a much thorough job in preparing the steps/adhering to the rigid steps outlined.
I would normally blueprint my engine (with the exception of the crankshafts for I will have to ship that down to CA for balancing) during rebuild. As a result: smooth, balanced power output with very good revving characteristics.
Less stress on the bearings also.