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In this video, Thomas Suit discusses the Statement of Work (SOW), a key concept in project management, particularly within the Project Management Body of Knowledge (PMBOK) framework. He defines a Statement of Work as a document outlining the terms and objectives of a project or service contract. It includes details on the scope of work, deliverables, timelines, and expectations between the customer and the vendor. Essentially, the SOW clarifies what the customer needs and the tasks the vendor must perform to fulfill those requirements. It serves as a foundational document in project execution, ensuring all parties have a clear understanding of their roles and responsibilities.