Abstract-This paper explores whether it is useful to view the fundamental ideas behind the smart city concept through the lens of the 'Public Value Management' (PVM) paradigm. It investigates how appropriate ICT investment in cities might be articulated and valued through the concept of PVM. In order to achieve this, it explores the core concepts found in the PVM literature, and draws key connections to the smart city literature. This data is supported through semi-structured interviews with smart city experts. The aim is to understand the potential value of smart city concepts beyond simple optimisation of city processes and cost cutting. This paper concludes that there are conceptual connections between the PVM paradigm and the smart city. It argues that the types of projects adopted, and their success, are inseparable from the political paradigm within which they are undertaken. As such, it takes the view that adopting the PVM paradigm could support the successful delivery of smart cities, predominantly through the ability to understand value beyond the optimisation of systems.