This is more of a check-list of the milestones of how it happens, not necessarily the mechanics of it:

from LDS web: 

“The word priesthood has two meanings. First, priesthood is the power and authority of God. It has always existed and will continue to exist without end (see Alma 13:7–8; D&C 84:17–18). Through the priesthood, God created and governs the heavens and the earth. Through this power, He exalts His obedient children, bringing to pass “the immortality and eternal life of man” ( Moses 1:39; see also D&C 84:35–38). Second, in mortality, priesthood is the power and authority that God gives to man to act in all things necessary for the salvation of God’s children. The blessings of the priesthood are available to all who receive the gospel. (” Priesthood Authority” Handbook 2, Administering the Church)
The keys of the priesthood are the right to preside and direct the affairs of the Church within a jurisdiction. Jesus Christ holds all the keys of the priesthood pertaining to His Church. He has conferred upon each of His Apostles all the keys that pertain to the kingdom of God on earth. The senior living Apostle, the President of the Church, is the only person on earth authorized to exercise all priesthood keys.”

As it says, Jesus Christ holds all the keys of the Priesthood. He is our key. ” “After a person has faith in Christ, repents of his sins, and is baptized for the remission of his sins and receives the Holy Ghost (by the laying on of hands), which is the first Comforter, then let him continue to humble himself before God, hungering and thirsting after righteousness, and living by every word of God, and the Lord will soon say unto him, ‘Son, thou shalt be exalted.’ When the Lord has thoroughly proved him, and finds that the man is determined to serve him at all hazards, then the man will find his calling and his election made sure” (Smith, Teachings, 150).”

from THE WOOD ZONE http://ift.tt/1KUp2Lb

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This is more of a check-list of the milestones of how it happens, not necessarily the mechanics of it:

from LDS web: 

“The word priesthood has two meanings. First, priesthood is the power and authority of God. It has always existed and will continue to exist without end (see Alma 13:7–8; D&C 84:17–18). Through the priesthood, God created and governs the heavens and the earth. Through this power, He exalts His obedient children, bringing to pass “the immortality and eternal life of man” ( Moses 1:39; see also D&C 84:35–38). Second, in mortality, priesthood is the power and authority that God gives to man to act in all things necessary for the salvation of God’s children. The blessings of the priesthood are available to all who receive the gospel. (” Priesthood Authority” Handbook 2, Administering the Church)
The keys of the priesthood are the right to preside and direct the affairs of the Church within a jurisdiction. Jesus Christ holds all the keys of the priesthood pertaining to His Church. He has conferred upon each of His Apostles all the keys that pertain to the kingdom of God on earth. The senior living Apostle, the President of the Church, is the only person on earth authorized to exercise all priesthood keys.”

As it says, Jesus Christ holds all the keys of the Priesthood. He is our key. ” “After a person has faith in Christ, repents of his sins, and is baptized for the remission of his sins and receives the Holy Ghost (by the laying on of hands), which is the first Comforter, then let him continue to humble himself before God, hungering and thirsting after righteousness, and living by every word of God, and the Lord will soon say unto him, ‘Son, thou shalt be exalted.’ When the Lord has thoroughly proved him, and finds that the man is determined to serve him at all hazards, then the man will find his calling and his election made sure” (Smith, Teachings, 150).”

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