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The video tutorial discusses the concept of a Statement of Work (SOW) in project management. It explains that an SOW is a document outlining the terms and objectives of a project or service contract, including scope of work, deliverables, timelines, and expectations. It serves as a guide for the customer and vendor to understand and define what needs to be done for the project. The SOW is a key document in project management and helps in setting clear expectations between parties involved.