Picklists in PLM 360 are global drop downs that provide a variety of benefits including standardizing data entry and easily linking Workspaces to one another. These can be created on-the-fly during field creation in a Workspace OR outside of Workspace setup. Access is administrative only, and is found through the Administration menu.
Once in setup, choose the General tab (as this is a global setting) and click Picklist Manager
Within this area, you have the ability to create a new list. When creating Picklists that are driven from other Workspaces consider prefixing them with a something common − like [WS] List Name − to easily identify which ones come from Workspaces.
The Picklists also have the option to Edit (add rows, modify Descriptions), to Delete, and to perform a Where Used. That is especially useful to leverage before you delete a Picklist. The Where Used query will Display the Workspace where its used, which Tab, and which Field, making this a very useful lookup.