What's a Statement of Work Worth?

Nothing, if it's not signed.

Imagine a project that started before all stakeholders had reviewed and then signed the Statement of Work. Imagine this same project that began incurring expenses before the "i's" were dotted and the "t's" crossed. Imagine a project team that developed deliverables on-the-fly while the delivery organization and the client were still negotiating the SOW. Oh and think about the impact on the project team as the objectives and deliverables were being defined, redefined, and restated again and again while the project was underway!

It happened. And it's probably happening right now many times over.

The downside to this is not the litigation that resulted; not even the frustration of the client and delivery organization. Nor is it the sleepless nights of the project team, project manager turnover (a total of three project managers bit the dust during the 9 month project), and overall frustration of all involved. The real tragedy here is the squandering of a really great idea and the enthusiasm of a project team because of a decision to move to execution prematurely.