They say order doesn't matter in v7 but I do it in this order, IM, PM, CM, AM, SLM)
If you install AM module first, it will speed up your installation.
After the CMDB is installed, IM, PM, or CM will install the AST forms across the CMDB. However when AM is installed & if it finds existing AST forms it has to modify them. Alternatively if AM is installed first it creates the AST forms and when subsequent apps are installed they do not modify them. AM also installs three additional CMDB classes.
So the installation order I recommend is the following : ARS, Approval, CMDB, AE, AM, IM, PM, CM, SLM...
The order of IM, PM and CM doesn't matter...