As long as the project management group does not focus only on IT aspects of projects, there should be no real problem, however, since projects need to span far beyond IT to actually achieve business value, I would try to get the PM effort out from the purview of the IT silo. Let technical managers and supervisors focus on supporting their resources, and let PMs watch the holistic aspects of the projects.
As a matter of fact, as I re-read and write this post, I'll back off my previous statement. Your tech managers and supervisors have their hands full with extending their responsibilities to PMO stuff.
Projects that contribute business value involve far more than IT. And having silos within IT owning the management process runs a serious risk of sub-optimization of the organization's results.
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