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The topic discussed is the Statement of Work (SOW) in project management, specifically in relation to the Project Management Body of Knowledge (PMBOK) or Project Management Institute (PMI). The SOW is a document that outlines the terms and objectives of a project or service contract, including the scope of work, deliverables, timelines, and other expectations. It serves as a guide for the customer and vendor on what needs to be done. The SOW essentially defines the tasks and responsibilities between both parties involved.