"A Statement of Work outlines the scope of work to be performed and identifies the objectives, tasks, and schedule related to that work"

SOW's are very detailed and binding contracts that specify all the details related to a project, including reporting hierarchies, timelines, budgets, resources and other terms and conditions related to that project or work.

It is a clearly written project management plan detailing the minutest aspects of the project to bring all the stakeholders on the same page.

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, payment terms, allocated resources, finances and other requisites with those who are working on the project, whether they are colla...