Instruments of value: using the analytic tools of public value theory in teaching and practice

The tools of public value management – such as the strategic triangle and the public value account – are increasingly used by scholars and practitioners alike. At the same time, some confusion remains regarding their functionality in action. Based on our experiences with these tools in classrooms and boardrooms, we analyse how these instruments help to explore and structure different dimensions of public management challenges. We propose a set of ‘principles of application’, detailing under what conditions public value tools are most likely to be helpful, and suggest a course of action for strengthening, connecting and extending the current tool box.