  We discuss the new era of precision QCD as it relates to the physics
requirements of the LHC for both the signal and background type processes. Some
attention is paid to the issue of the theoretical error associated with any
given theoretical prediction. In the cases considered, we present where the
theory precision is at this writing and where it needs to go in order that it
not impede the discovery potential of the LHC physics program. To complete the
discussion, we also discuss possible paradigms the latter program may help us
understand and some new developments that may play a role in achieving that
respective understanding.
