How accurately can we measure weak gravitational shear?

With the recent detection of cosmic shear, the most challenging effect of weak gravitational lensing has been observed. The main difficulties for this detection were the need for a large amount of high quality data and the control of systematics during the gravitational shear measurement process, in particular those coming from the Point Spread Function anisotropy. In this paper we perform detailed simulations with the state-of-the-art algorithm developed by Kaiser, Squires and Broadhurst (KSB) to measure gravitational shear. We show that for realistic PSF profiles the KSB algorithm can recover any shear amplitude in the range 0.012 < \\ < 0.32 with a relative, systematic error of 10-15%. We give quantitative limits on the PSF correction method as a function of shear strength, object size, signal-to-noise and PSF anisotropy amplitude, and we provide an automatic procedure to get a reliable object catalog for shear measurements out of the raw images.