Individual who decided what needs to be done for a Project. He is responsible for creating a vision and deciding constraints. She or he is responsible for synchronizing business objectives and implementation aspects. Their objective should be to maximize RoI with faster time to market and utilizing capabilities of team in an effective manner.
Solution Architect from Customer was designated as a Product Owner and he was available in all the discussion. He used to accept stories from Development, Schedule stories for completion and Accept Definition of Done or completed stories. For us, BAs provided priorities to the stories and based on it we used to work on it. However, it was challenging considering the culture of Sequence of Stories in the system and not the Priority. Product Owner remains outside of Scrum team and still he is involved in each Sprint or iteration for achieving Goals. She or he is responsible for gathering feedback and deciding the course for an implementation. In our case PO was having an end to end vision and also technical insight on how to implement an application and that was an added advantage as technically challenging as he used to challenge the existing thought process more often then not and it made the process interesting.
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In a nutshell, he was involved in the Strategic (application strategy, developing the application road map, and managing the stakeholders) or Tactical (Managing product backlog) decisions. In my experience, it was very much hybrid scenario. PO was not involved in all tactical or strategic decisions. He used to give inputs when it comes to strategic decisions while he was very much into the tactical decisions.
What I feel:
Availability of Owner in meeting is crucial as Requirements may change. He must have good understanding of business requirements. He can reject the stories well. He can prioritize the stories based on importance.
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