How can we configure pipeline timeouts globally

Currently every project we create has a default 1hour timeout for CI/CD. Now at times when projects CI/CD are long running, we have to go to individual projects->settings->General pipelines and update the timeout.

I am on Gitlab 12.0.3 and was wondering if there is any parameter that I could update that way all projects created by default have say 90minutes timeout rather than 60.