Despite the prolific number of published articles providing help and guidance in relation to costs budgeting, cases still arise where it is necessary to be reminded about some of the practical measures that can be considered to avoid loss. Reasons for failure to file budgets on time, ensure they cover the work and cost that could reasonably be anticipated or making timely applications for revision can be due to lack of knowledge, lack of experience, failure to utilise available resources or panic when up against a deadline. However, with proper planning and forethought the difficulties can be overcome.
Master McCloud found it necessary to consider a number of issues when deciding upon an application to revise parts of a budget in the case of Thompson v NSL Ltd.
