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In this video tutorial, Thomas Suit discusses the concept of the Statement of Work (SOW) in project management. 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 defines the tasks and responsibilities between the customer and vendor, helping to clarify what needs to be done. The SOW is an essential document in project management, guiding the project team towards achieving the desired outcomes.