I looked into this a little more, as my view was incorrect.
It seems that 'conditional costs' are agreed prior to a no win, no fee arrangement.
The conditional costs of the lawyers services do not need to include any disbursements (outlay of money made by a lawyer then reclaimed from the client - perhaps for specialist opinion, and other things).
Lawyers are known to currently quote their estimated costs in ranges which relate to ranges in the award. So, roughly a percentage of any award - although it should not be seen to be an exact percentage of the award.
This document says (if I am reading it correctly) that the lawyer should not be seen to be receiving more than 25% of any awarded payment, plus disbursements made by the lawyer for the case.
Conditional costs agreements and their requirements (NSW)