Create multiple project timelines with different phases / iterations under a single Project Area

Hi,

 I am using RTC 5.0.2 iFIX 003 with OPAL 3.3.1 process template. It has a single project area with multiple team area. Each team works on a different project and have a individual workitem categories. 

Is it possible to create separate timeline for each teamarea under a common project area? Will it help in assigning workitems to separate iterations or phases defined under separate timelines  ?

For Example: I have two team areas A and B into a single project area AREA1.
Is it possible to define separate timelines such as projectA_timeline and projectB_timeline along with their phases or iterations such as iteration 1 , iteration2 etc.
I want to create a workitem  WI1, Filed Against team A , Planned for iteration1 or projectA_timeline  and workitem WI2 , that is planned for iteration 1 under projectB_timeline .

Please confirm if above scenario is possible.

Thanks & Regards,
Prerna