How does a Product Owner manage external dependencies and risks across multiple teams?

Managing external dependencies is a core accountability for the Product Owner when maximizing flow: 1. Visualizing and Mapping Dependencies: Use a shared visual tool (like a dependency map or a Program Increment/PI planning board) to make every dependency transparent to all stakeholders and teams. The Product Owner must regularly flag and track these external items as high-risk PBIs in their own backlog. 2. Implement a "Pull" System for Dependencies: Instead of pushing requirements, the Product Owner should work with the consuming team to create a "Contract" (often a written agreement on the API/output format) and agree on a lead time. The consuming team "pulls" the required item from the supplying team's queue when ready. 3. Proactive Risk Management (The "Plan B"): For every critical dependency, the Product Owner must define a fallback or mitigation strategy. This could be preparing a manual workaround, switching to a different vendor (if possible), or creating a simple mock-up to allow your team to continue working while the dependency is resolved. This ensures that a single external blocker doesn't stop the entire Agile team. 

That suggestion of a "Contract" for dependencies is very practical! For the external vendor dependency, how should the Product Owner handle the high risk of schedule slippage when there's no technical solution available? Is it the Product Owner's role to secure a legal or financial mitigation (like penalty clauses in the contract), or is that the Scrum Master's or management's responsibility? 

A Product Owner manages dependencies across Agile teams by making them transparent with a visual map, using a "Pull" system with a clear definition of the required output, and defining a Risk Management mitigation strategy or fallback for every critical external item in the Product Backlog.