Is it possible to use the business scenarios/ business processes/process steps from one project as a basis for another project?

Hi everyone-

I am looking into if the following is possible in SAP Solution Manager 7.1:

If I create a project (Project A) by setting up the Business Scenario, Business Processes and Process Steps, is it possible to save this information somewhere so that I can use the same information for Project B? (where in Project B the majority of the information would be the same as Project A but some documents may change or be updated).  And following that, use the information from Project B for a third project (Project C)?

Is there away to duplicate information for multiple projects and save that information to a central area?