This research aimed to optimize the camera calibration process by identifying the optimal distance and angle for capturing checkered board images, with a specific focus on understanding the factors that influence the reprojection error (ϵRP). The objective was to improve calibration efficiency by exploring the impacts of distance and orientation factors and the feasibility of independently manipulating these factors. The study employed Zhang’s camera calibration method, along with the 2k full-factorial analysis method and the Latin Hypercube Sampling (LHS) method, to identify the optimal calibration parameters. Three calibration methods were devised: calibration with distance factors (D, H, V), orientation factors (R, P, Y), and the combined two influential factors from both sets of factors. The calibration study was carried out with three different stereo cameras. The results indicate that D is the most influential factor, while H and V are nearly equally influential for method A; P and R are the two most influential orientation factors for method B. Compared to Zhang’s method alone, on average, methods A, B, and C reduce ϵRP by 25%, 24%, and 34%, respectively. However, method C requires about 10% more calibration images than methods A and B combined. For applications where lower value of ϵRP is required, method C is recommended. This study provides valuable insights into the factors affecting ϵRP in calibration processes. The proposed methods can be used to improve the calibration accuracy for stereo cameras for the applications in object detection and ranging. The findings expand our understanding of camera calibration, particularly the influence of distance and orientation factors, making significant contributions to camera calibration procedures.