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How to complete your SOW template Title. Label your document as a statement of work, then include your business name and your client's name. ... Introduction. ... Purpose and objectives. ... Tasks. ... Deliverables. ... Schedule. ... Location. ... Budget, pricing, and payment schedule.

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).

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.

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.

The SOW is agreed upon and signed. Now, the statement of work document works as both the formal document and the practical action plan when initiating and implementing the project. It ensures that both parties have established a common ground and have an understanding about the full life cycle of the project.

Elements of an SOW can include: Purpose of the project. Scope of work being performed. Location of the project, project length, and any work requirements. Expected deadlines and deliverables. Acceptance criteria. Any hardware and software required. Performance-based standards to be met.

Statement of Work Types There are three main types of statement of work: Functional SOW. Performance SOW. Design SOW.