The architect's role is critical to a successful software project
The role of a software architect is similar to that of a architect in the construction industry. We both work very closely with the stakeholders to understand their requirements, document and analyze those requirements for feasibility, perform cost-benefit analysis to determine the best approach, partition the inter-related systems in sub-systems, and provide technical diagrams and direction to the implementors. As you can see the architect's role is critical to a successful software project.
The architect is the person who melds technology, business, and creativity into a cohesive whole. Therefore, this person needs to have a strong understanding of technology, business. This person needs to be comfortable with communicating with business and technology personnel and be able to translate requirements and risks between them.