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In this YouTube tutorial, Thomas explains the concept of a Statement of Work (SOW) in project management. The SOW is a document that outlines the terms, objectives, scope of work, deliverables, timelines, and expectations of a project or service contract. It serves as a guide for both the customer and the vendor, defining what needs to be done and what is expected. The SOW is essential for clarifying the project requirements and ensuring that all parties are on the same page.