Proposed framework for risk management practices in public sector to increase public value in Germany

Abstract

Measurements for saving money will find their limit: Cost-benefit-analysis could lead to another direction, but without changes in the legal environment and in the duty to provide essential duties for people and for enterprises cost-effectiveness is not to realize. Arrow and Lind (1970) suggest that governmental agencies should ignore uncertainty and behave as if they act or react indifferent to threats or chances. They argue that the government is able to pool and compensate risks. The reachable extend is thereby greater than private investors are able to offer.