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SoWs are a critical part of project planning. Although they may be updated throughout the project lifecycle to reflect changing requirements, they are not the focus of project execution. As such, project SoWs typically do not contain: Risks and risk mitigation plans.

Each project requires a unique SOW that outlines the specifics of that engagement. That said, almost all SOWs will include seven elements: the Scope of Work, deliverables, time and resources, payment terms, client services, changes, and terms and conditions.

The SOW works as reference material during the project. It lists the central purpose of the project and the work that needs to be completed and delivered by the end of the project. This is all agreed upon through signing the SOW.

4 Issues Standing in the Way of a Perfect Statement of Work Your SOW doesn't articulate performance requirements. ... Your SOW infers obligations, which leads to confusing comparisons. ... Your SOW is a contract for the divorce ? not the marriage. ... You think the hard work is all done once the SOW is signed.

Along with a proof of acceptance, a SOW could be considered a standalone contract. However, in practice, this isn't usually the case. Most circumstances where a SOW is separate from a contract occur when the relationship between businesses is governed by a master service agreement (MSA).

A statement of work is legally binding, but it is not the final, formal contract signed at the end of the contracting process. It can be thought of as the formal foundation of a final contract.

It's also important for both parties to sign off on an SOW before any work begins as this makes it legally binding on both sides. Failure to do so could mean that one party has no legal recourse should things go wrong further down the line.