Since 1996, Petrobras – Petróleo Brasileiro S.A., the biggest company in Latin America, has supported the development of a method to structure networks of partnerships called Centers and Networks of Excellence Practice (PCREX). It aims to support the establishment of centers and networks of excellence in areas in which innovation depends heavily on the articulation of various players from outside the company and different internal areas. This article presents the results of the analysis of the PCREX method, including its characterization and field research carried out in eight Centers and Networks of Excellence developed by Petrobras. The field research and subsequent analysis helped identify (i) the alignment between the PCREX method and the best innovation management practices and (ii) the difficulties faced by new management models based on resource and knowledge sharing, which highlights that organizational innovations need to be able to count on strong institutional support to succeed.