What's the process of making a picture book?

Let's assume it's a book by Julia Donaldson. She would send the text to the publisher, who would ask me whether I want to do the illustrations. Then I would meet the editor and the art director to talk about what the book would look like, and we'd decide what I should draw on each page… often it ends up a mixture of some big double spreads, some whole or half page images… and little pictures, called vignettes ( - I like to do those best). I would then develop the main characters and also start to make little sketches. They can then be enlarged so everybody can see what will be on the drawings. If everybody including Julia is happy I can start doing the illustrations.