The architecture owner is like the orchestra conductor - they need to make sure all the instruments (teams) are playing in harmony. Mitigating risks is just one part of their job.
I think determining the priorities for the solution is a key part of the architecture owner's job. They need to balance the needs of the business with the technical feasibility.
Removing impediments and working cross-functionally are also important responsibilities for the architecture owner. They need to be a collaborative leader.
Jesusa
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