Prioritization happens every step of the way, with every element of the project. It starts with deciding what the scope, time, and budget are going to be. Then you decide how those resources will be allocated.
e.g. three full days and eight half days to record and mix a 5-song demo. This might be a project over two weeks, where you "book" three consecutive Saturdays in your home studio with four after-work days per week.
So we might say the first Saturday is four hours to get all the instruments and mics set up, and then 4-6 hours to cut live rehearsal tracks of the ten or so songs under consideration, two or three takes each.
Day 2,(The first after-work session) is spent with the whole band selecting which five songs sound best (tightest, fewest mistakes,most "complete") in the rehearsal tapes. Those are the ones that will be quickest to record, so those are the ones that make the cut.
day 3 track drums and bass. record the bass DI along with drums, using the scratch tapes as a click. aim for 4-5 takes of each song. No editing or pre-mixing, just tracking. everyone else can stay home and practice with the scratch.
Day 4 rhythm guitars, double-tracked, 4-5 takes x2 for each song. Everyone else stays home.
Day 5 rough edits and pre-mix of the rhythm tracks. Just the engineer, comping the takes and knocking them into shape.
Day 6 (second full saturday) is tracking vocals. everyone else stays home.
Day 7 comping vocals and rough pre-mix. engineer only.
Day 8 full-band review and meeting. Decide whether intros or choruses need sweetening, whether punch-ins or overdubs are needed, etc.
Day 9-10 record sweeteners, solos, overdubs, punch-ins, synth pads, whatever, comping and pre-mixing as you go (this is just cleanup and ear-candy, whatever you have time for).
Day 11 (full saturday, final day) Final mix. Engineer should have at least four hours alone before the band shows up for last-minute input. This is just a demo, after all, and the main thing is to get it done.
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