The Product Owner (PO), a member of the Agile Team, is responsible for creating Stories and prioritizing Team Backlog. This helps to streamline the execution of program priorities and maintains the technical and conceptual integrity of the Features and components.
The PO plays a key role in maximizing the value of the team, ensuring Stories are user-friendly and conform to the Definition of Done. This is a critical role for most companies moving to Agile. It typically requires one PO to support each Agile team or two.
This role involves significant relationships with and responsibilities beyond the local team. It includes working with Product Management, Customers, and Business Owners as well as other stakeholders.
You can also know more about the Responsibilities of a good Safe Product Owner through https://prettyagile.com/safe-product-owner-certification/
These are the duties of the PO:
Participation in PI Planning and Preparation
The PO is a member of the extended Product Management Team and plays an important role in planning the event. The PO is responsible for updating the organization backlog, reviewing and contributing to the plans Vision, and content performances.
The PO assists the team in story estimation and sequencing by providing clarifications.
Maintaining the team's backlog – The PO is responsible for creating, editing, and maintaining the backlog with input from System Architect/Engineering as well as other stakeholders. It consists mainly of user stories but also contains enablers and defects.
Prioritization of backlog items is based on user value and time. This information was also refined during the PI.