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The Statement of Work (SOW) is a document that outlines the terms and objectives of a project or service contract, including the scope of work, deliverables, timelines, and expectations. It serves as a communication tool between the customer and the vendor, helping clarify what needs to be done. It is an essential part of project management, as it defines the actions to be taken to meet the project's objectives. The SOW is crucial for ensuring both parties are on the same page regarding project requirements and expectations.