Please note that this answer was provided before any edits were made to the OP's question.
Lambie's right that this is a complicated question. He's not quite right about the issue of posession. You need to ask yourself, "what am I talking about? A state or condition of the device, or an action that affects the device?" Are you using the word as an adjective or a noun?
Used as an adjective: Possessive
The calibration of the device => The device's calibration
We are talking about a condition of the device: the fact that because it has been calibrated it is now in a calibrated state. We're using calibration as an adjective to describe the state of the device.
Used as a noun: Compound noun
The calibration of a device1 => Device calibration
In this example we're talking about something that can be done to a device — the act of calibrating the device. This uses calibration as a noun identifying the action. Because we want to be specific about what we're calibrating, we use a compound noun: "device calibration."
Here are examples of the two uses:
I'll do the device calibration. (a task is being completed)
I'll change the device's calibration. (a condition of the device is changing)
So, you need to decide if you're using calibrate as an adjective or a noun. If it's an adjective, you'll use the posessive forms. If you're using it as a noun, you use the compound noun forms.
1 Please note that I am skipping the discussion of "a device's calibtration" vs. "the device's calibration." That might be a diservice to you. The magic isn't "a" vs. "the." The magic is choosing what you're talking about: adjective or noun. I felt that pointing this out in a footnote would be more clear than trying to discuss it in the body of my answer. Thanks!