Book excerpt: Precision machining is an essential manufacturing process to achieve high dimensional accuracy and high surface integrity of functional components for various technological applications, such as those in aeronautical, biomedical, mechanical, metrological, mechatronic, nano-technological and microscopy industries. To achieve a satisfactory operation of precision machining, however, one must have a deep understanding of the setting and control of machining conditions, mechanisms of material removal and effectiveness of the cutting tools. As a result, a quality precision machining requires a comprehensive integration of the development of machine tools, the improvement of machining methods and the wise application of materials science and engineering and mechanics of solids.