A system and method for precisely positioning a robotic tool relative to a worksite, wherein the worksite includes a positioning target located at a fixed position relative thereto is disclosed. A camera coupled to the robotic tool detects the target and generates a position signal representing a current position of the robotic tool relative to the worksite. A system controller receives the position signal and computes a parallax-corrected position based on the distance to the worksite. In addition, the system controller produces a correction signal representing the difference between the parallax-corrected position and the current position. A mechanical arm precisely positions the robotic tool and the worksite relative to each other.