To make the translations in the most efficient way possible it is convenient to do so in the following order:

1. Tags.

Tags are necessary to create other elements. You must start at the lowest level to be able to choose the appropriate parent when creating a higher level tag.

2. Categories.

The second elements to create are the categories, as they are used by the rest of the components. When creating categories you must start at the lowest level to be able to choose the appropriate parent when creating a higher level category.

3. Custom Field Groups.

Field groups must be created before fields.

4. Custom Fields.

 Fields need Field Groups and Categories and are necessary to create Articles and Contacts.

5. Modules

If you have modules that are included in articles you must do their translations in this step as translations are necessary for translation processes to include them in the translations of the articles. This avoids having to manually include the names or ids of the modules in the text of the articles when they are already translated.
You should translate these modules only and leave the rest for when you have translated the menu items as these are necessary to create the modules.
While creating the translations of these modules it is convenient that you disable the detection of inconsistencies in the KMFasTrans options, since not having the translations of the menu items available yet, many inconsistencies can occur and slow down the process.

 6. Articles

Translated all the previous, articles can already be translated as everything that is needed is already available. You have to translate the articles before the menu items as many of these need articles.

7. Banners, Contacts, Newsfeeds, Weblinks

Now you can translate the Banners, Contacts, Newsfeeds and Weblinks in any order.

8. Menus

Menus have to be translated before menu items.

 9. Menu Items

Now it is possible to translate the Menu Items because everything you need is already available. As in Categories, you must start at the lowest level to be able to choose the appropriate parent when creating a higher level menu item.

10. Modules

Finally you have to translate all the modules that you did not translate in point 5 above, now with the inconsistency detection process enabled.
You also have to review the modules that you translated in point 5 to assign the appropriate menu items.