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A statement of work should contain; an overview, governance detail, the approach, phases and tasks, deliverables, timeline and milestones, estimate and payment schedule, and any assumptions.

As noted, the statement of work is a detailed overview of the project scope. It's also a way to share the project requirements, acceptance criteria and payment terms with those who are working on the project, whether they are collaborating or are contracted to work on the project.

A Statement of Work (SOW) is an important part of both project and contract management that helps guarantee that the work for a project will be done according to certain guidelines and expectations. Contractors or collaborators outside your organization will use the SOW to guide their work during a specific project.

The SOW is typically written by the client, but authors may vary, and more than one author may participate. This may include anyone from the project manager to a third-party contractor to the Chief Information Officer in the case of IT and software development projects.

The SOW gives you a chance to clarify the more minute parts of your relationship. It also gives you a chance to reiterate any important information that you want your prospect to remember.

A Statement of Work, often known as an SOW, outlines deliverables and project goals. It's created to keep everyone on the same page about deadlines, scope of work, and project expectations.

A statement of work (SOW) is a document that provides a description of a given project's requirements. It defines the scope of work being provided, project deliverables, timelines, work location, and payment terms and conditions.Ultimately, finding savings opportunities and reporting on a project's overall success.