Pretty much as fuelish says.
Take gravity before - example, you made the batch starting at 1.100, you've let it drop to 1.020, then you add a step of honey up to 1.040, let it ferment a bit more back down to 1.020 so then add a bit more honey back up to 1.040 and let it finish.
On checking you find that it's finished at 1.010
So, the initial fermenting stage, it dropped 80 points, you added a step and then let it drop back another 20 points, so there you've let it drop a total 100.
Then you added a further step back up to 1.040 and then let it go. After it finished a final check shows you it dropped another 30 points, so you've got a total drop of 130 points and taking 1.000 as dry, you're seeing about 10 points of residual sugar that put it just into the medium level.
130 point drop, equates to 17.66% ABV. So you could, just let it clear, then rack for bulk storage or bottle store (I prefer bulk).
The strength won't change unless you're doing something else that might add liquid and reduce the strength some - but most additions shouldn't vary the strength or flavour that much unless it's stuff like fruit juice, water etc........
You're initial batch should have enough nutrient/energiser for whatever you predict your final gravity/strength is likely to be - but generally it's just a case of crunching the numbers and working out where you want to do the step additions.
Yeast ? well that's just a case of getting an idea of likely flavour profile, and it's tolerance. There's no point in trying to use a 14% tolerant yeast and then adding the steps, if the steps are gonna make the batch hit tolerance and then sit in there as residual sugar, especially if you don't want too much of that.