Can more than 1 full life cycle implementations be done for a company?

Hi there,

Can anybody please tell me if its possible to do more than 1 full life cycle implementation for a company with multiple company codes? From my understanding, SAP life cycle is ASAP methodology, starting from project preparation to go-live. So if I'm implementing sap for 1 company code, I'll be completing 1 full life cycle implementaion. Now if i do the same for another company code, for the same parent company, will that be considered as 2 full life cycle implementation? Kindly help. I'm not so clear about this full life cycle implementation concept.

Would really appreciate your gekp.

Awaiting response,

Fieona