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In this YouTube tutorial, Thomas Suit discusses the concept of a 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 tasks, deliverables, timelines, and expectations. It serves as a guide for both the customer and vendor to understand what needs to be done. The SOW is an essential component of project management knowledge and helps in defining the scope and requirements of a project.