There are some helpful components in there.
The method I prefer for how I think is to start at the highest conceptual level and then work down to the details of the passage.
For example:
Highest level theological concept - God does all things to glorify Himself. Therefore, how is God choosing to glorify Himself through this particular passage? (have this in mind throughout study)
Contexts:
- Whole Bible Level - Where does this passage fit in the context of the story of all of Scripture?
- Covenant Context - What covenants inform the theological context of this passage?
- Testament Context - What role does the particular book play in its testamental context?
- Book Level Context - Where does this passage fit within the context of the particular book in which it exists? What is its contribution? Where is it in the flow of thought?
- Section Level Context - Where does this passage fit within its particular section of the book?
- Immediate Context - Where does this passage fit in its immediate context? How do the surrounding passages/pericopes shape the meaning of, or give insight into, the text?
Once I have those higher level questions answered, then I start with pericope/passage-level questions and examining the details of the text using some of the methods in the link.
My biggest complaint about the inductive Bible study method is proponents often suggest examining very small, technical details of the passage without first establishing and answering higher-order questions first. This can result in a very skewed understanding of a particular passage that is divorced from its broader Biblical and theological contexts.
The method and ordering I try to follow is an attempt at staying faithful to the "Scripture interprets Scripture" hermeneutic and honoring the totality of God's Word in the study process to the best of one's ability.
