What is Service Level Agreement (SLA)?

In project management, a Service Level Agreement (SLA) is a commitment or agreement between you and someone you employ to execute a work, outlining what is anticipated and how things should be done. Consider hiring a handyman to fix items around the house; the SLA would specify what repairs they’ll make, how long it should take, and the level of quality you anticipate. An SLA defines the agreed-upon level of service, performance requirements, responsibilities, and work quality anticipated from a service provider, contractor, or vendor in a project. It functions similarly to a contract in that it guarantees that everyone is on the same page about what has to be done and how well it should be done.