During a construction project, many unexpected events can prompt the need for additional money. Construction contingency is an emergency fund for unspecified work to mitigate risk factors. A contingency can be made for designers, owners, and contractors with varying restrictions for withdrawing funds. A fixed-fee contract outlines the size of the fund before construction begins and the contractor can choose to use the fund or not. A cost-plus-fee contract sets a guaranteed maximum price (GMP) for which the owner covers and the excess a contractor pays for. A schedule of values can help outline the need for using the construction contingency during the progression of the project.