Fluid loss during cementing has long been suspected to have detrimental consequences, including reduction of slurry volume; increased slurry density and viscosity; cement-cake deposition, which may cause additional decreases in friction pressure during placement; and near-wellbore reservoir filtrate invasion. This paper briefly reviews and quantifies these consequences. Given well geometry, job design, and cement slurry fluid-loss properties, we show how to predict the critical phenomena that are most likely to impair cementing and the most sensitive well or slurry parameters. By coupling these results and the degree of accuracy with which well parameters are known, one can calculate prediction uncertainty (the error bar) and deduce the key parameters that affect this error bar.Slurry volume reduction, DV, m 3