Statement Of Work
A Statement of Work or “SOW” is a formal document used in project management practices to broadly describe scope of work to be completed on a given project, the responsibilities of involved participants, and expectations regarding execution within the project. It’s a routinely used tool for the management of vendors, freelance, and contract labor engaged to work on a project.
SOW is a term utilized by contingent workforce managers to not only describe documents capturing the work products and services, including work activities and deliverables to be supplied under a contract or as part of a project timeline—but also a service that enables the governance and outsourcing of finite projects to a team on non-employee workers.
Benefits Of Hiring SOW Employees Include
- Single Project Flexibility
- Highly Skilled Professionals In Specific Disciplines
- Fixed Payment/Cost
- Little To No Supervision
- No Strings Attached Relationship
The broad and general benefit of engaging a SOW project workforce is the ability to outsource the management of day-to-day functions of the SOW team and to receive a completed deliverable at a fixed cost without the burden of managing resources and administering benefits. In addition to the benefits detailed above, those organizations leveraging SOW project labor can expect:
- Access to highly skilled professionals for a single project, effectively circumventing the dreaded skills gap;
- Increased control over rising labor costs, especially costs associated with healthcare and other benefits required for FTEs;
- Predictability in budget development and management; SOW workers are commonly paid out of a project’s overall budget;
- Stability derived from a fixed price to deliver a result as opposed to variable prices commonly associated with labor;
- Exceptional scalability and the ability to ramp workforces up or down quickly in the face of changing market environments.
Let IT Avalon’s Statement Of Work Services Develop A Process And Criteria For Ensuring That SOW Contracts Are Thorough, Cost-Effective, And Executed. Contact Us Today For More Information!