The Gemini High-resolution Optical SpecTrograph (GHOST) is a fiber fed spectrograph primarily designed for high efficiency and broad wavelength coverage (363 -1000nm), with an anticipated commissioning early in 2018. The primary scientific goal of the Precision Radial Velocity (PRV) mode will be follow-up of relatively faint (R>12) transiting exoplanet targets, especially from the TESS mission. In the PRV mode, the 1.2 arcsec diameter stellar image will be split 19 ways, combined in a single slit with a simultaneous Th/Xe reference source, dispersed at a resolving power of 80,000 and imaged onto two detectors. The spectrograph will be thermally stabilized in the Gemini pier laboratory, and modal noise will be reduced below other sources through the use of a fiber agitator. Unlike other precision high resolution spectrographs, GHOST will not be pressure controlled (although pressure will be monitored precisely), and there will be no double scrambler or shaped (e.g. octagonal) fibers. Instead, GHOST will have to rely on simultaneous two-color imaging of the slit and the simultaneous Th/Xe fiber to correct for variable fiber illumination and focal-ratio degradation. This configuration presents unique challenges in estimating a PRV error budget.