As others have noted the need for accuracy and/or precision depends on what you are trying to accomplish. But in all cases, consistency will help you accomplish those ends. The degree of precision or accuracy that is needed or that is achievable is also set by different processes (for example, optics vs chemistry vs artistic needs) and critically, it also depends on what tools are available to make measurements.
For example, if you want to make sharp images on film, then you should be concerned about placement of the lens, film, and focusing device to fractions of a millimeter (and this number is set by optics, the wavelength of light, and the resolving power of film).
Say you want to control the lens to film distance to 0.1mm, and it's a 150mm lens, that means you need to measure to 1 part in 1500 precision. Fortunately, you have a measuring device built into the camera, the ground glass (or maybe a rangefinder), that enables you to measure this accurately and precisely. That's one reason that even if the temperature changes or wood swells or whatever, that you can still make images, as long as the GG back has the correct depth to match the film holders and the camera doesn't flop around. Trying to focus a camera with only a ruler and no focusing aid would be desperate.
On the other hand, when trying to get the exposure time or development time right, your limits are set by how the film density increases with exposure and development time - density vs exposure curves and so on - so that's governed by chemistry rather than optics. Measuring devices are also less accessible. There are people who have densitometers and measure their own HD curves and so on to set developing times and exposure indexes, but many people also use experience and the manufacturer's recommendations. Because chemistry is different from optics, you can get away with less precision in say shutter speeds or dev time than you can in GG focusing. Few amateurs try to control exposure or developing time to less than 1 part in 100, let alone 1 part in 1000. Probably the item in film processing that needs greatest precision is the temperature of color processing.
With either of these aspects of process, it helps to have consistency. If one keeps changing things it is hard to know what is going right or wrong.
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