Create Dynamic Document Library Templates

I have the following scenario within our IT Org

1. PMO office maintains a "Standards" library, to which they publish all standard templates that need to be used for Project Management.

2. Each Project Manager would like to create a document library within their "project site" based on all the documents within "Standards" library.

My question is, would it be possible to create a document library template whose contents are dynamically pulled from another library?

Thanks.