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In this video tutorial, Thomas Suit discusses the concept of a Statement of Work (SOW) in the context of project management. The SOW is a document that outlines the terms, objectives, scope of work, deliverables, timelines, and expectations for a project or service contract. It serves as a guiding document that defines the responsibilities and requirements of both the customer and the vendor. Essentially, the SOW clarifies what needs to be done and how it should be executed in a project.