The steps are grouped together and based on this document.
Salesforce Apex Developer Guide- Triggers and Order of Execution
Below are the groups, and the corresponding mnemonic.
L - Load (Record is loaded or initialized/field values loaded into SObject)
V - Validation (System validation rules)
T - Triggers (Before triggers executed)
Lion Visits Tiger
V - Validation (System and custom validation rules)
D - Duplicates (Execute duplicate rules)
T - Triggers (After triggers executed (record is first saved, not committed to db))
Voicing Displeasure to Tiger
AS - Assignment (Execution of assignment rules)
AUTO - Auto-response (Execution of auto-response rules)
WF - Workflow rules (Execution of workflow rules (field update executes triggers)
ASsuming AUTOmatically they Would Fight
P - Processes (Execution of process builders and flows)
ESC - Escalation (Execution of escalation rules)
ENT - Entitlement (Execution of entitlement rules)
R - Rollup (Rollup summary fields updated)
F - Formula (Cross-object formula fields are updated)
he Pounced, ESCalating the ENTanglement, Removing Fur
P - Parent (Parent and grandparent records are saved)
S - Sharing (Criteria-based sharing rules are evaluated)
C - Commit (DML operations committed to db)
P - Post-commit (Post-commit logic)
the Pride Shared the Conquest, Party on!
Hope you find it helpful!
Thanks, Tom