1.   Comparing these subjective judgements with actual costs might suggest that people are wrong about, for example check trading being cheap.

2.   Five thousand dollars seems to be a reasonable approximation of the actual cost.

3.   How does the actual cost compare with the budget?

4.   How does the actual cost compare with the planned cost for meeting the objective?

5.   The contractor is paid for the actual costs he incurs plus a previously agreed lump sum for his overheads and profit.

6.   This is acceptable only if it can be demonstrated that the method gives a reasonable approximation of the actual cost.

7.   The actual cost of the repair was much higher than the estimate.

8.   Differences between the actual costs and cost profile and the budget are called variances.

9.   For example, if the quantity of sheet piling was increased in a temporary works item a variance would be identified between the budget and actual costs.

10.   Reconciliation of the actual costs and the budget should be done regularly throughout the relevant budget period.