My personal theory/strategy on building a team in Madden starts with defense and then moves to offense so I myself would Draft in this order.
1st and foremost are Cornerbacks. I always prefer to have two good corners. Two will always be on the field at all times on defense and it's nice to be able to make turnovers in the passing game. Play Recognition, awareness, man coverage, zone coverage, and catch are the stats I look for (in that order).
2nd thing I look at is linebakers. At this point I only look for a ROLB and MLB as these linebackers will be seeing the field the most seeing as I use the 4-3 and good linebackers are the foundation to stopping runs. Again here I look at play recognition, awareness, block shed, power moves, finesse moves, zone coverage, then man coverage.
3rd thing I look for is now getting to offense. I got some guys who can stop the pass, now I need some guys that can catch a pass. Here I look for a legitimate #1 receiver, a guy who can catch the ball wherever he is on the field. Catch in Trafic and spectacular catch is my number one priority here, awareness is also really nice here.
4th thing I look for are offensive line. A LT, a RG and a Center. I don't mind having a couple holes as most teams have one or two. I look for run block, pass block, awareness, and impact block.
I then move on to DT/DE to get some type of pass rush and guys that will help in the run stop. Block shed is key here. Fill out my safety positions (same as Cornerbacks except add hit power and tackle as well here). I look for a quarterback here, I can generally still get a decent QB at this point. After that I get my #2 receiver and slot guy. Nickle CB. LOLB, then a TE, a HB, then start finishing filling out my backup guys. I'll generally add a FB, Kicker, and Punter last.
This fits my particular scheme and gives me a solid start so after about one or two Drafts I'm a legit powerhouse team. Basically just look for positions that are important to the way to play.