In my spare time, I work on a pet project called Theatreers. The aim of this is a microservice based platform focused on Theatre / Musical Theatre (bringing a few of my passion areas together). I've recently re-architected the project to align to a multi-region serverless technology stack.
Consider this scenario. You are managing a software project using Azure DevOps, and you have multiple teams working towards a common cadence. Perhaps that cadence is managed by a central team. To gain the most value from your sprint planning, you would need to associate the iterations from the project level with each individual team. This is a scenario that I have for my fictitious Theatreers project, but also a scenario I encountered recently with a colleague. I have been helping them setup an Azure DevOps project to track the development of IP and collateral, so that they can more accurately forecast what they expect to land and show the value being delivered by the team.