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The video tutorial discusses the importance of a Statement of Work (SOW) in project management, specifically within the PMBOK or PMI framework. The SOW is a document that outlines the terms, objectives, scope, deliverables, timelines, and expectations of a project or service contract. It serves as a guide for both the customer and vendor to understand what needs to be done and achieved. Essentially, the SOW defines the tasks and responsibilities between the two parties involved in the project.
