This article contains a brief overview of the magnitude and causes of perinatal calf mortality (PCM). A PATH model chart of the risk factors of PCM is presented as a foundation for preparation of herd-management programs to prevent PCM, for herd investigations to control excessive PCM, or to plan seminars for livestock producers on control of PCM. The financial impact of PCM is explored through discussions of expenses associated with PCM, management decisions after calf deaths, and a comparison of the financial losses of PCM with losses incurred through pregnancy failure.