Under "constructive alignment" (Biggs), achievement of the CLOs is based on the various assessment components related to those CLOs. If a student has an overall pass of these assessments, the assumption is that he or she has achieved the CLOs for the course.
However, this can be tricky if every CLO comes with its own (isolated) assessment (for example, a group project to test CLO No 1, an individual essay to test CLO No 2, a final exam paper testing CLO No 3). Even if the student has an overall pass, he or she may have failed that one assessment that tests achievement of, say, CLO No 2. To avoid this, there will usually be one comprehensive assessment component that tests ALL CLOs.
Student satisfaction does not come into play. But of course, students will have a chance to periodically give feedback on the course (course review), its relevance to the programme, delivery and assessment, which may lead to revision of either CLOs, assessments or both.
The learning outcome should be measured on what the learner has managed to achieve after learning. This should be demonstrated in his behavior and cognition. This should be pegged on what the course was supposed to impact the learner.