SharePoint List for Lookup to Provide Values

Question

Each technology in the Tech Portfolio List needs to be tied to one or more Business Capabilities that it helps enable. We could select Business Capabilities at different levels of the hierarchy. In the example below, we could choose either Claims Investigation Management, or its child, Claims Research, for tying to a particular technology.

This will grow and change over time, so I’m looking for ways to potentially keep this information in a list separately somewhere for management, AND be able to select the capabilities from that list (or a managed metadata object) to assign to others lists/libraries within SharePoint. In other words, we want one source of truth of this information. Where to manage it, and also a little bit how to sync it or make it available across our environment.

Answer 1

You can create Termset in your Managed Metadata called "Claims" and you can add terms for L1 and L2 and L3 as shown in below screen shot. You can follow steps from below links:

1. Create Termset
2. Add Terms to Termset

Now you can create column of type managed metadata column this in any site collection in your environment and map it with termset which you have created.

Now Termset will be your once source of truth and it will be synced automatically where ever you have used (i.e. if something is changed in Term in termset it will by automatically applied to site where you have used it as value - However it might take 10-15 minutes to apply changes)