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The text discusses the concept of Statement of Work (SOW) in project management, particularly within the Project Management Body of Knowledge (PMBOK) or PMI. SOW is defined as a document outlining the terms and objectives of a project or service contract, including deliverables, timelines, and expectations. It acts as a guide for the customer and vendor, outlining what needs to be done to meet the project objectives. Essentially, SOW defines the scope of work between the parties involved in the project.