Construction risk includes anything that can cause non-completion, late completion, and cost over-runs. Any delays in the completion of the project delays the cash flow and thus repayment of any outstanding loans. Any cost over-runs will ultimately impact the net cash flow, which will affect a project's profitability. As the construction period is limited to the construction phase, the risks associated with this phase of a project are relatively easy to mitigate. For example, construction risk can be transferred to the contractor by negotiating a turnkey (ideally fixed price) construction contract. Contracts can also include provisions for the risk of non-completion, late completion, or cost over-runs.