What everyone above said is correct. It is personal, and it takes some experience to find how you work best. If you are experienced in PB writing and revising, you might take some of what you have learned about your process to a novel. The only difference is the time invested in each draft and thus, proportionally, the time between revisions.
Speaking for myself, the first draft is a plow forward. I'm a combination planner and a bit of a panster, too. (This means I have a very thin outline before I even start, but the fleshing out is done by the seat of my pants, as the saying goes.) First drafting is the reason I am a writer, and for me the rest is the necessary work to make it better. As Pons said, some love one part and not the other. It's a somewhat different set of problem solving.
I don't even go near a novel for a minimum of two weeks between drafts. Two months is better. By "drafts” I am not referring to tweaks and repairing an inconsistency here and there. I mean substantial changes and meeting the phrasing with fresh eyes, more like a reader than a writer.
The first two real drafts are done with me alone. No one even hears what it's about. I have a lot to work out before I feel "I've got something there."
Third draft comes after my first beta reader reads and gives developmental comments, points out inconsistencies, (Thank you, Ev!) and catches typos. I go over the feedback carefully. Sometimes other matters arise for me while doing this. When done, a full re-read after another break, and then a second beta reader. I look for a reader who might be different from the first in many ways, and when their feedback returns I mull over that in a similar way. Then another break, another read-through, and then I have my own checklist to make sure I have asked myself if I am clear about the theme, the foreshadowing, character development/change, MC solving the problem (or coming to terms with it) and so on.
Another read-through, mysteriously catching *even more* typos...
and then it goes to my agent who suggests things to make it stronger. So this means another revision, sometimes two.
As to the mechanics of "how," you really only have your reading ways and your reading eyes. It will not be different from the way you have worked on shorter picture book texts. ButterfyGirl mentioned hard copy printed like a book. This is a good technique for many. Not what I use, but I know it helps. There are some techniques for line editing and I seem to remember our own Harold Undedown is about to offer a free webinar addressing that.
But never feel you must write many drafts, (Stephen King does only three, but to say he's experienced is an understatement) or that what someone else says is a must really is for your way of working. Some writers are very clean grammatically and phasing-wise, and some (like me) can never get rid of all the typos no matter how many times we go over the words.