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