Before proceeding, here's the overview map of political control again.
Germany Set Up Notes & Overall Strategy - Part I
As with Japan, Germany has five "big picture" factors to consider before thinking about individual fronts and sectors. These factors are time, objectives, oil, production, and units.
Time
Time is almost, but not quite, on Germany's side. The Allies are the ones on the clock. Germany can win if they can't organize their conquest quickly enough.
In order to run the clock out on the Allies, Germany has to make them waste impulses and turns.
Unlike Japan, Germany's enemies are strong enough on land that "speed bumps" are unlikely to be a viable delay tactic. Instead, Germany has to rely on "hero cities" or similar strongpoints that require a great deal of time to reduce, counter-attacks to check Allied advances and destroy materiél, bottling up beachheads, bad weather, and short turns.
Also unfortunately, at least during the first summer, the Allies will as a team be focused almost entirely on Germany: the USSR because, well, that's all it has to do, and the other Allies because of Operation Overlord (or something).
Objectives
Germany begins this scenario with 19 objectives. Germany ends the war, historically, with 0 objectives controlled. However, the game rules expect Japan to have 10 at the end of the scenario for a draw. (So Germany is expected to be a tough nut to crack).
Therefore, Germany's goal is to control 11 objectives at the end of the scenario. As such, Germany can afford to give up up to 8 objectives.
Unlike Japan, however, Germany can't really afford to simply leave one or two objectives "hanging" - although it may not have a choice for Oslo or Athens. Most of Germany's objectives are too close to its core. So Germany has to fight to keep its objective hexes.
German forces are also strong enough to consider counterattacks against Allied-controlled objectives, at least immediately after the Allies take them. Warsaw, Bucharest, Paris, and so on down the line: if the Allies take it, the Germans should try to get it back.
Oil
Germany begins the game with 5 oil resources on the map and 2 synthetic oil plants (which count as oil resources).
This allotment of oil should, with a bit of conservation and stockpiling, be sufficient. Unfortunately for Germany it can probably expect to lose 3 of these oil resources this summer, as they are located in Rumania and are probably the USSR's biggest target for the summer.
Germany's other oil resources are, of course, vulnerable to strategic air attack.
Therefore, Germany has to strongly defend the Ploesti oilfields from the Red Army, and maintain an active air defence against the Allied bombers - although with any luck the tactical exigencies of Overlord will keep the bombers away for a few turns.
The good news is that Germany only needs oil for 7 more turns: it doesn't matter if it can reorganize units at the end of July/August 1945 or not.
Production
Unlike Japan, German production is not vulnerable to attacks on convoy lines. Provided its territory doesn't shrink too quickly, Germany can expect to produce a respectable amount (say, 30+ build points) for the rest of the scenario.
Of course, that doesn't stack up well against the USSR and US juggernauts, but what can you do?
Units
The German Army is numerous and strong. Unfortunately, it's not quite numerous enough to cover every single front. It's strength relative to the Allies will also decline as it takes losses (and as the dreaded Red Army Guard Banner armies begin appearing on the map).
The German Navy is pretty much a non-entity, apart from the submarine forces, which will probably be sent on death rides in an effort to find and destroy Allied sealift - the sealift shortage is the Allies' greatest weakness in this scenario, and if the Axis can destroy some of it early they will buy some breathing room (except on the Eastern Front).
The Luftwaffe will be powerful but outnumbered, particularly as time goes by. As far as I can see, German combat aircraft are outnumbered 2:1. The Germans have to be careful because attrition is not in their favour.
Fronts to Consider
I won't get into detail on the fronts/sectors Germany has to examine, but I should like to summarize them here:
The most important front, the Eastern Front, can be divided into three regions: Finland, which is peripheral (largely), the central Baltic/Polish sector (the road to Berlin), and the Carpathian/Rumanian sector (where the Ploesti oilfields are).
The least important front is the Mediterranean Front, which can be divided into three regions: the Balkan Coast (which is peripheral), the Italian sector, and the French Mediterranean coast.
The front of medium import is the Western Front, which can be broken down into a number of sectors: Norway, Denmark, Low Countries, and France.
Of course, if these fronts collapse, then Germany then has to take into consideration another sector: the core (that is, Germany itself).