What is a Statement of Work (SOW)? And what are the different types?

The video explains the concept of a Statement of Work (SOW), a detailed document outlining project requirements, deliverables, and processes. It discusses the components of an SOW, its role in reducing project risk, and its use in tendering processes. Different types of SOWs, such as detailed, level of effort, and performance-based, are explored, highlighting their focus on inputs or outcomes. The video emphasizes the importance of clarity and negotiation in drafting an SOW.

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