Sharepoint Checkbox Options to be looked up from a Sharepoint List

I have a requirement to build a Work/Task/Project tracker for my team. I work on multiple projects, each will have its own list. Thus, I dont want to create the Checkbox options, choice lists everytime I take up a new project. Instead, create one list for Checkboxes, one list for Choice list columns. Then everytime I create a new list of clients/projects, I should be able to create a Checkbox / Choice column that can look up the values from the standard lists. Is that possible in Sharepoint?

Example:

List 1: Will have Milestones like Project Scoping, Client List Finalization, Migration PreWork, Migration Go Live, Migration Support etc. 

List 2: PreWork Stage, Cutover Ready, Cutover Completed, Support Stage, Completion

List 3 will be created as an actual tracker with each row/item representing one client. A column will be created as Milestone which should look up the 5 Milestone and add as Radio Buttons/Checkboxes from List 1 stated above. Another column would be created as "Project Stage", which will have drop down choices listed in List 2 mentioned above. 

Sorry for the long write up. Could someone please let me know how I might be able to achieve this?