Public value is an abstract term for describing the benefits and contributions of public sector activities to the society’s welfare and growth. Unlike in the business sector, the costs and benefits of public sector activities often cannot be measured in profit or loss. Instead, government activities contribute to the public welfare (give added value to the society). In a general understanding, public value measures the value-add that public organisations bring to individual citizens, society and the market via the public services thereby indicating how effectively taxpayer money is spent.