You may find that you would like to change a value in a picklist because of an update in terminology or to correct for a typo or inconsistency.

Modifying the picklist value alone will not change the records which use the old picklist value. A bulk update is required.

So to change a value in a picklist and update the records to reflect the new value, you'll need to do the following:

• Go to Configuration > Customisation > Picklists and identify which picklist you are looking to update.
• Without deleting the old value, add the updated value to the picklist and click save and close.
• Go to the landing page of the record type you have updated the picklist for and view all, then add a column for the field which uses the picklist and filter on this field for the old value.
• Click Bulk Actions > Update and find the name of the field and update the value - click save and close, then run the bulk action (this will update all the records with the old value to the new value).
• Finally, go back to Configuration > Customisation > Picklists and find the picklist, then delete the old picklist value.