Item Type Lookup Tables at Workset Level

I have a lot of item type data that is going to be project (workset) specific. Instead of manually entering in the data in the properties dialogue of Microstation, I would like to enter that information in excel, then have each of those item types lookup that data from the excel file based on the first column manual input (similar to articles below). I know that I can use the ITEMTYPE_LOOKUP configuration variable to accomplish this as shown in those articles below, but those articles talk about putting the excel lookup file in the same spot as the DGNLIB file, and adding the ITEMTYPE_LOOKUP variable to the Organization Standards configuration file. However, since the data I want to lookup is going to be project specific (vary from project to project) I need to put it at the project level. So a few questions I have about this:

1. Is something like this even possible?
2. If yes to above, how would I map the configuration variable to the project (workset) level? What would that look like?
3. In order to do the above, I would need to place that ITEMTYPE_LOOKUP variable in the workset cfg file. Is that even possible? Will the lookup still function properly like they show in the articles below?
4. If by some miracle all of the above is possible, can I map that one manual input (first column) to a pick list which is actually the first column of my lookup table to ensure they use the same data?

Item Types - Populating Items using Lookup Tables

Expression to Derive Data from Lookup Tables