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Thomas Suet discusses the Statement of Work (SOW) in project management, which is a document outlining the terms and objectives of a project or service contract, including scope of work, deliverables, timelines, and expectations. The SOW defines the tasks to be done between the customer and the vendor, clarifying what the customer wants and what needs to be accomplished. It is a crucial document in project management, essential for ensuring all parties understand and agree on the project requirements.