A statement of work is a document two parties agree to that outlines the scope, deliverables, timeline and quality expectations for a project or service.
For example, a marketing agency and a new client sign a statement of work before starting a rebranding project, specifying that the agency will deliver a new logo, website redesign, and brand guide within 12 weeks for a fixed fee of $28,000 — protecting both parties from scope creep and payment disputes.