In a small bowl or measuring cup with spout, dissolve the active dry yeast in the lukewarm water and let stand (do not mix) until slightly foamy, for about 10 minutes.
In a large bowl, stir together the 2 3/4 cups all purpose flour and the salt and form into a mound. Make a well in the center and slowly pour the yeast mixture to the well. Using a fork and stirring in a circular motion, gradually pull the flour into the yeast mixture. Continue stirring until a dough forms.
Lightly flour a work surface with some flour and transfer the dough to it. Using the heel of your hand, knead the dough until it is smooth and elastic, for about 10 minutes. Form the dough into a ball, or round shape.
Brush a large bowl with the olive oil and place the dough in it. Cover with plastic wrap and a kitchen towel and let rise at room temperature until it has doubled in size, for 1 to 2 hours. I like to keep my dough in a warm place.
When ready, turn the dough out onto a lightly floured work surface. Punch down the dough and, using your hand, begin to press it out gently into the desired shape. Place one hand in the center of the dough and, with the other hand, pull, lift and stretch the dough, gradually working your way all around the edge, until it is the desired thickness, about 1/4 inch thick for a crusty pizza base and 1/2 inch thick for a softer one. Flip the dough over from time to time as your work with it, or roll out the dough using a rolling pin. The dough should be slightly thinner in the middle than at the edges.
Using your rolling pin, transfer the pizza dough to a pizza stone, pizza pan or baking sheet, cover with a kitchen towel and let rise again until almost doubled in size, about 20 minutes. Now, your pizza dough is ready to go!