Hello ferdywallinx,
Align Photos,
Georeference (with markers or cameras),
Optimize (optional, although recommended),
Build Dense Cloud,
Build DEM (from dense cloud),
Build Orthomosaic (based on DEM).
But as you see, depending on the task there could be different approach:
Align Photos,
Georeference (with markers or cameras),
Optimize (optional, although recommended),
Build Dense Cloud,
Build Mesh (based on dense cloud)
Build DEM (from mesh),
Build Orthomosaic (based on DEM/mesh).