The role of a product owner in scrum which this master thesis is focusing on, is one of the most challenging roles in the agile development. He or she is responsible for the product, acting as the central person between management, internal and external stakeholders and the scrum team. He or she has to be highly qualified and competent. Furthermore a specific organizational framework is necessary to be successful in this role. The target of this master thesis is to show possible problems and challenges regarding personal, organizational and task/team specific aspects of this role and to recommend best practices to overcome them. The author of this master thesis has chosen two research methods, on the one hand literature research and on the other hand expert interviews. Ten persons from four companies with long term experiences as a product owner, scrum master or developer and manager have been interviewed. The main outcome of the research looking at personal specific aspects is the importance of personal, social and methodical skills and their relative importance to professional and technical skills. A person combining all those skills is very seldom. Therefore he or she needs a lot of advice from scrum master, team and management. Referring to task/team specific aspects there often is a misunderstanding of the tasks and responsibilities of a product owner which can lead to conflicts between product owner and the team. Also task specific problems and role conflicts can occur, if the wrong position within a company gets this role. Referring to organizational specific aspects the main outcome is that the introduction of scrum in a company needs many structural and cultural changes. Quite often the role of the product owner is not defined correctly in the beginning which might lead to organizational challenges and to increased effort in communication, coordination, decision making as well as declining productivity and team satisfaction.