Creation/Assignment of Project in PS & Project Management to portfolio item

Dear All,

I have one query. Is it possible to create Project in PS and project in Project management(C project) from Portfolio item at the same time.

Requirement is to have portfolio structure for approvals and strategic decisions, Project in project management  for detail resource planning using roles and tasks, and Project in PS for all the logistic plan and execution and other period end activities . In short busiess requirement  is such that, we need to have Projects created in PS and Project management( C project) and then assigned to Portfolio item.

I was going through the configuration of PPM, there i can only see an option to either create PS project or Project management Project.

Early response is highly appreciated.

Thanks .