Statement of Work (SoW)
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Frequently Asked Questions
A: Although a SoW isn’t as long as a 50+ page framework agreement, it is still important to highlight the essentials: who, what, where, why, when and how (how much will it cost). The best way to write one is using a template that can ensure you cover enough ground.
A: Specificity is the key to avoiding confusion. When drafting a Statement of Work, the writer must avoid being broad or ambiguous when defining the work in question. The reason being is that the job could be left open to interpretation from the other party, and this could result in doing far more work than intended and costs can overrun.
A: Suppliers want to get paid sooner, and clients want to pay later. There are four payment structures we see in SoWs. First, money on a time and materials basis (hourly rates paid). Second, fees paid upon completion of “milestones” in a project. Thirdly, payment of receipt of deliverable or on a satisfactory completion of a project. The fourth option could be a payment subscription.
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