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In this video, Thomas Suit discusses the Statement of Work (SOW), a key document in project management, particularly within the PMBOK framework. The SOW outlines the terms and objectives of a project or service contract, detailing the scope of work needed to achieve the project goals. It includes deliverables, timelines, and other expectations between the customer and the vendor. Essentially, the SOW serves as a clear definition of the tasks required by the customer, establishing what needs to be done to fulfill the project requirements.