Reliable project delivery with Statement of Work (SOW)
Rest easy knowing your projects will get delivered on time and on budget
Pay for results, not time
SOW contracts let you to pay for results, rather than hours worked. It allows departmental managers looking to complete a task or a project to look to hire specific skills for each competency or activity stream required.
Use of contingent workers means that companies get their work done faster, with drastically reduced employment risks. SOW turns projects into ‘jobs to be done’ that can be outsourced by independent contractors.
We’re seeing a dramatic increase in the fragmentation of projects into tasks, ready-made service packages and SOW contracts.
These alternative ways of procurement let companies sugar-cube their resourcing needs to source best-fit, value-for-money services from a large addressable pool of freelance talent.
What is a Statement of Work?
It’s a contractual agreement between your company and a independent contractor/freelancer/service provider to pay for project resources based on the achievement of pre-determined outcomes. A statement of work contains:
- Details of the job to be done and of the skills needed to complete it
- A set of way-points against which contractors will be rewarded
- Confirmation of contract duration, payment terms (such as will expenses be covered), method of payment, currency, etc.
- Clarity over what qualifies milestones as being complete
- Details of the resources provided, location of work, and other project information
- A summary of obligations of the contracted worker such as expected behaviors, hours of attendance etc.