FeatureCAM follows this general process:
Analyze the dimensions to determine what tool to use.
Pick feeds and speeds based upon the material being machined.
Generate a roughing pass, possibly in multiple Z steps depending upon the depth of the step.
There are infinitely many variations on this process. The process can be fine tuned primarily in two places: the Default Attributes dialog, to tune only a feature, use the Tools, Milling, Strategy and Misc. property tabs for the feature. The tooling database also has a large impact on how a step bore is machined, and the feed/speed database helps to determine the feeds and speeds used.
See also step bore features.