THere are alot of interactions in the game, trying to give you a run down of the entire engine would take weeks and months. No one knows it all either (cept maybe the devs) as its not all open info.
Re: only focusing on one aspect, that wont be possible. If you build a war machine you will need weapons; those weapons can and will eventually be countered by defenses on opposing ships (at higher levels anyways). This means you need to either go full steam on a weapons branch or ahve a backup weps branch; that takes Research tech, research buildings, and research funding.
Your ships cost ALOT of money; if you even try to keep up with the AI on larger maps at higher levels, you will go bankrupt.
This is one possibility, there are many. As others have said though, usually you start building up tech/ships/empire one way and then adapt to the changing circumstances brought on by the AI.
My current game is kinda funny and a good example of this. As the 6th ranked strongest empire on a Crippling game, the the #1 AI empire attacked me. They would not make peace no amtter what I offered and they fleets 3x as big with tech 3x as advaned. My 40 attk fleets were going upa gasint 250 attk fleets and losing and the AI was hearing nothing of peace. So I gave up offering gold. Instead I offered planets. Not my plaents though lol. I bribed another race to attack a neighbor and I also attacked (technically stronger but in a horrible position b/w 3 other empires)and I gave the powerful race THEIR planets...right on the border with the #2 race (Korath who we all know and love as peaceful law abiding neighbors

) This did several things; I made war to get to peace, I gave up planets I could not hold, and I caused alot of influence tension between the leading empires in the game. 10 turns after I made peace with the #1 empire, I bribed them to attk the #2 empire who alreayd was pissed at them for encraoching on their territory.
In short, I used this convoluted strategy of making war to achieve peace (my poor neighbor, the Yor, were wiped b/w me and a distant empire). I then ate popcorn and massed weps+logistics tech/with ships while watching #1 and #2 duke it out. Until #2 got beat up too much and I intervened on behalf of #1 to wipe #2 and steal his tech. And yes that did make me the #2 empire

lol
As much as this game drives me nuts at times other times its really rather impressive.