What is the first thing I should do when finishing my basement? Walls, carpet, drop ceiling?

If you have links to any good web sites about step-by-step details on finishing an unfinished basement, please provide.

Answers:
1. frame all rooms 2. run all of your wires to lights and outlets don't forget smoke detector 3. Insulate 4.do plumbing if any/sump pump for any floods 5. drywall/mud and tape/paint 6. install wall plates/light covers/bathroom 7.drop ceiling 8.Install carpet/floor 9.Install doors 10.Install any trims..good luck.

Other answers:
cieling drop
cieling drop
Carpet should be last considering the mess you'll be making with the walls and ceiling.
First walls, then drop ceiling, and then the flooring. This will keep the floors from being scratched or damaged during construction. Try hgtv.com or diy.net
make sure the foundation is sealed before you do anything. Make sure the floor is level. Frame your walls. Put in electric and heat/air. drywall,, ceiling, finishing trim, paint then the floor.

Sorry, I dont have any websites to point out.

Good luck!
Walls or ceiling first. Carpet LAST. My personal opinion is that if you drywall and paint first, then you don't have to worry about the mess getting on the carpet or ceiling. Then put in your ceiling, then do your carpet. It will be the best flow so you don't trash anything while moving through the next step.
I would paint first, ensuring you go high enough up on the wall where the drop ceiling will be. Then put in drop ceiling. Then I would vacuum everything real good and put in carpet/flooring last.
if the basement is too high drop the ceiling first,then do the carpet,and last do the walls.
Insulate
Check the Hometime website. They have done several shows on finishing basements.
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