Final answer:
The major benefit of having a single Product Owner is faster decision-making. This centralization reduces transaction costs and expedites the development process, ensuring that clear, prompt, and consistent decisions are made.
Step-by-step explanation:
A benefit of having a single person in the role of Product Owner instead of a group or a committee is faster decision-making. Delegating the decision-making power to a single individual helps in reducing transaction costs, which includes the effort, time, and communication overhead associated with making decisions. While having a group can introduce various perspectives, it can also lead to longer deliberation times and may result in a slower consensus-building process. The uniqueness of the Product Owner role in methodologies like Scrum is to ensure that one person is responsible for maintaining the vision and roadmap of the product, prioritizing features, and representing the stakeholders' interests, thereby accelerating the process of development and increasing the likelihood of a successful outcome.