The Product Owner has the following responsibilities:
Define the features of the product;
Decide on release date and content;
Be responsible for the profitability of the product (ROI);
Prioritize features according to market value;
Adjust features and priority every 30 days, as needed; and
Accept or reject work results.
The product owner is responsible for the first of the three Scrum ceremonies : Sprint Planning
The Scrum Team looks at the prioritized Product Backlog and slices off the top priority items and commits to completing
them during a sprint. These items become the Sprint Backlog.
In return for the Scrum team's commitment to completing the selected tasks, the Product Owner commits that he or she
will not throw new requirements at the team during the sprint. Requirements are allowed to change but only outside the
sprint. Once the team starts on a sprint it remains maniacally focused on the goal of that sprint.