Precision QCD Physics at the LHC

This review describes the current status of precision quantum chromodynamics (QCD) studies at the LHC. We introduce the main experimental and theoretical methods, and we discuss their cross-stimulated developments and recent advances. The different types of QCD observables that are measured at the LHC, including cross sections and event- and jet-level properties, for various final states, are summarized. Their relation to fundamental QCD dynamics and their impact on Standard Model parameter determinations are discussed using specific examples. The impact of QCD-related observables on direct and indirect searches for rare processes within and New Physics beyond the Standard Model is outlined