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Thomas Suit explains that the topic of the video is the Statement of Work (SOW) in project management, particularly in relation to PMBOK or PMI. The SOW is a document outlining the terms, objectives, scope of work, deliverables, timelines, and expectations of a project or service contract between a customer and vendor. It essentially defines what the customer wants and what needs to be done. The SOW is like a document that outlines the tasks and responsibilities between the parties involved.
