Get your contracts under control today
Start your free trial with Contractbook today and experience the magic of having all your contracts in one place.
Start free trial
Dictionary

Statement of Work

Table of contents

Let us show you how Contractbook can help your team improve your contract management

What is a statement of work?

A statement of work lists and defines all relevant aspects of a project in written out form as opposed to bullet points. It is supposed to give a detailed and structured overview of every aspect and step involved in a project. It should also include standard regulatory and governance terms and conditions.

What a statement of work addresses

These following points are typically addressed in a statement of work:

  • Introduction
  • Purpose - explains the reason for the project
  • Scope - defines the work that has to be done and the process used to complete it
  • Location - defines where the work has to or can be done
  • Tasks - breaks up the work defined in Scope into single tasks and defines these
  • Milestones - details the single phases of the project as milestones to break up the overall schedule
  • Deliverables - a list of what is due and when it is due
  • Schedule - establishes a general timeline including the single due dates for deliverables
  • Standards & Testing - in case there are specific industry standards that have to be adhered to or testing has to be done
  • Success - defines the parameters for a successful completion of the project
  • Requirements - details the equipment needed to complete the project as well as eventual formal requirements, such as specific degrees or qualifications
  • Payments - details how and when payments will be made
  • Note - for anything that might be important but did not fit into one the other categories
  • Close - details, how the results are to be delivered and how the project is to be closed, along with archiving documents

What is the use of a statement of work?

A statement of work can be used to provide the necessary information that vendors, contractors or suppliers would need to properly prepare a bid. It also serves to get all parties involved on the same page and can provide project management with an organizational backdrop on which the detailed project plan can build.

Looking for
Statement of Work
template?
No items found.

From Theory to Practice: Analyze Your Contractsn

Try our free bulk clause extraction tool to quickly identify specific clauses across multiple documents.

Product walkthrough

See what centralizing contracts really looks liken