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The video tutorial discusses the concept of a Statement of Work (SOW) in project management, particularly in the context of PMBOK or PMI. The SOW is a document that outlines the terms and objectives of a project or service contract, including the scope of work, deliverables, timelines, and expectations. It serves as a defining document between the customer and the vendor, clarifying what needs to be done. It is essentially a detailed description of the work that needs to be accomplished.