My favorite excerpt #3 from Monica Wood's The Pocket Muse:
A Tip for Revision
I call this exercise "color coding." First identify the area you wish to address:
Ratio of analysis to incident?
Dialogue vs. narrative?
Reflection vs. action?
Next apply highlighters in different colors to diagnose possible problems.
Ms Wood then proceeds to show how to analyze samples of a personal essay, short fiction, and poem. If you want to learn more, get the book =)