Event Portfolio Planning and Management Cities and regions around the world increasingly capitalize on a series of events aimed at optimizing their reach and outcomes. How then can a series of different events be developed and harnessed? What are the conditions and the means by which synergies and collaboration among different events and their stakeholders can be fostered? This book for the first time explores how managers and host communities can synergize sport, cultural and other planned events in a portfolio in order to attain, magnify and sustain their outcomes. The incorporation of different events into a portfolio requires an integrative way of viewing the different community purposes that they serve in unison. This book elaborates on this holistic approach by developing an integrative theoret- ical framework for conceptualizing event portfolios, and examining their chal- lenges and prospects as well as potential as tools for sustainable development. It therefore presents the foundations of event portfolio planning, the patterns of inter-organizational relationships within collaborative events networks that foster the conditions for community capacity-building and the requirements for the design and development of event portfolios. Topics are considered from varying perspectives and examples of emerging event portfolios from a range of geo- graphical regions are integrated throughout. Uniquely providing a holistic framework for planning and managing a series of events this is essential reading for all those interested in Events Policy, Plan- ning and Management. Vassilios Ziakas is Senior Lecturer in Events Management at Leeds Metropoli- tan University. His research focuses on issues relating to sport and leisure policy at the regional, national and international levels. Routledge advances in event research series Edited by Warwick Frost and Jennifer Laing School of Management, La Trobe University, Australia Events, Society and Sustainability Edited by Tomas Pernecky and Michael Luck Exploring the Social Impacts of Events Edited by Greg Richards, Maria DeBito and Linda Wilks Commemorative Events Warwick Frost and Jennifer Laing Power, Politics and International Events Udo Merkel Event Audiences and Expectations Jo McKellar Event Portfolio Planning and Management A holistic approach Vassilios Ziakas Forthcoming: Fashion, Design and Events Kim Williams, Warwick Frost and Jennifer Laing Conferences and Conventions A research perspective Judith Mair Food and Wine Events in Europe Edited by Alessio Cavicchi and Cristina Santini Event Volunteering Edited by Karen Smith, Leonie Lockstone-B inney, Kirsten Holmes and Tom Baum The Future of Events and Festivals Edited by Ian Yeoman, Martin Robertson, Una McMahon-B eattie, Elisa Backer and Karen Smith Sports Events, Society and Culture Edited by Katherine Dashper, Thomas Fletcher and Nicola McCullough The Arts and Events Hilary Du Cros and Lee Jolliffe Event Design Edited by Greg Richards, Lénia Marques and Karen Mein Rituals and Traditional Events in the Modern World Edited by Warwick Frost and Jennifer Laing This page intentionally left blank Event Portfolio Planning and Management A holistic approach Vassilios Ziakas First published 2014 by Routledge 2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN and by Routledge 711 Third Avenue, New York, NY 10017 Routledge is an imprint of the Taylor & Francis Group, an informa business © 2014 Vassilios Ziakas The right of Vassilios Ziakas to be identified as the author of this work has been asserted by him in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this book may be reprinted or reproduced or utilized in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers. Trademark notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe. British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging in Publication Data Ziakas, Vassilios. Event portfolio planning and management : a holistic approach / Vassilios Ziakas. pages cm. – (Routledge advances in event research series) Includes bibliographical references and index. 1. Special events–Planning. 2. Special events–Management. I. Title. GT3405.Z53 2013 394.2–dc23 2013016886 ISBN: 978-0-415-52671-5 (hbk) ISBN: 978-0-203-11939-6 (ebk) Typeset in Times by Wearset Ltd, Boldon, Tyne and Wear Contents List of illustrations x Preface xi PART I Theoretical foundations 1 1 Introduction 3 1.1 From singular to multiple 3 1.2 Conceptual issues and emerging questions 5 1.3 Structure of the book 8 2 Establishing the context for a holistic approach 10 2.1 Conceptual grounds 10 2.2 Theoretical underpinnings of event portfolio planning 15 2.3 Event portfolio and multipurpose development: A comprehensive framework for research 36 2.4 Concluding remarks 41 3 An integrative theoretical framework for event portfolio planning and management 42 3.1 Scope of synthesis 42 3.2 The anthropology of events 43 3.3 The role of events as leisure practices in community development 53 3.4 Sport event tourism and sustainability 63 3.5 Social network theory and interorganizational relationships 66 3.6 The synthesis of an integrative theoretical framework for event portfolio planning and management 72 3.7 Concluding remarks 74 viii Contents 4 The pragmatic challenges and potential of event portfolios 75 4.1 Investigating emerging event portfolios within their environments 75 4.2 Event portfolios in rural development: The case of Fort Stockton 77 4.3 Emerging event portfolios in cities 88 4.4 Fundamental challenges of event portfolios 92 4.5 Avenues toward realizing the potential of event portfolios 105 4.6 Concluding remarks 115 5 Event portfolios and sustainable development 117 5.1 Event portfolios and sustainability: A balancing act 117 5.2 Event portfolio strategy as a means of sustainable development 119 5.3 Concluding remarks 121 PART II Toward a holistic event portfolio theory 123 6 Foundations of event portfolio planning 125 6.1 Event portfolio planning and leveraging 125 6.2 Event portfolio leveraging for tourism development 135 6.3 Event portfolio leveraging for community development 140 6.4 Event portfolio leveraging for sport development 145 6.5 Cross- leveraging mega-e vent legacies with event portfolios 147 6.6 Concluding remarks 151 7 Event portfolio network and interorganizational relationships 153 7.1 Stakeholder networks and interorganizational linkages in event portfolios 153 7.2 Building community capacity through events networks 156 7.3 Concluding remarks 161 8 Event portfolio design and development 163 8.1 Event portfolio design 163 8.2 Capturing event meaning at the intersection of dramaturgy and liminality 169 8.3 Modeling event dramaturgy 171 8.4 Event portfolio evaluation 174 8.5 Concluding remarks 177 Contents ix 9 Conclusion 178 9.1 A systemic framework for event portfolio management 178 9.2 Toward understanding the synergistic event portfolio dynamics and processes 180 9.3 Building a concrete basis for event portfolios 183 References 186 Index 212