Total actual costs incurred that must relate to whatever cost was budgeted within the planned value and earned value in accomplishing work during a given time period. (PMI)

incurred costs that are charged to the project budget and for which payment has been made or accrued.

Costs determined on the basis of historical data and not upon estimated increases in costs or averages.

This is the cost amount that will default from the quoted cost field on a purchase order. This cost can be overridden to reflect the actual cost if it is different from the quoted cost.

A cost sustained in fact, on the basis of costs incurred, as distinguished from forecasted or estimated costs.