Hi Prashant, Generally speaking, the product owner is responsible for the product success: http://www.romanpichler.com/blog/one-page-product-owner/

I suggest you define what success means for your products, and determine the product owner’s contribution. Success could be entering a new market, increasing market share or profitability, improving customer satisfaction, or developing the brand. If possible, agree on quantitative goals and select metrics to measure the progress made. I use the Product Vision Board and a product roadmap to capture product-specifc goals:

http://www.romanpichler.com/blog/the-product-vision-board/
http://www.romanpichler.com/blog/agile-product-roadmap/

Does this help?

I am struggling the way to assess the performance of Product Owner. How can one assess the performance of the product owner? Few options I can think of are: feedback from scrum team members, scrum master, users of the product. I am struggling to understand that whether the feedback should be subjective or can be objective.

Thanks!

Thanks for your feedback and insightful comment, Matt. You are absolutely right: It’s important to focus on the critical questions at the beginning of a development effort, and to discard the rest for the time being.