Teamcenter List Of Values (LOV)
Lists of values (LOVs) are pick lists of data entry items. They are commonly accessed by Teamcenter users when they click an arrow in a data entry box.
The list entries are created either by referencing existing data or by entering custom data. Once created, the LOV is implemented throughout the interface by attaching the LOV to one or more properties. Creating LOVs and implementing them throughout Teamcenter can greatly improve productivity at your site and help prevent incorrect user entries.

LOV Types
Batch - A list stored in the Teamcenter database, rather than in the template
Classic - A list stored in the template.
Dynamic - Dynamically queries the database at run time.
List of values are created in BMIDE, the Extensions folder -> LOV folder. LOV once created has to be attached to a property in business object.
Creation of LOVs are simple, so I shall explain the important points in each type.
Important points in Classic LOV
Lists of values (LOVs) are lists on property boxes in the user interface. Classic lists of values (LOVs) store the LOV values in the template.
Usage types. Based on the requirement select any one of them.
Exhaustive - Indicates that the list contains all possible choices.
Suggestive - Specifies that the list contains suggested choices. The user can enter their own value if they want.
Range - Indicates that the list falls within a range of numeric values.
Allows creating cascading LOVs, select show cascading view and create lovs. [Will blog how to create cascading LOV]
Important points in Batch LOV
List of values that are managed externally outside BMIDE templates.
Once batch LOV is deployed to the database, you can subsequently extract its values to an XML file, modify the file, and then update from the file to the database without having to shut down the database.
Type of values supported on batch LOV are limited to string, double, char, date and integer.
Usage types supported are Exhaustive and Suggestive.
Classic LOV can be converted into Batch LOV and vice versa using bmide options

Important points in Dynamic LOV
Lists of values (LOVs) are lists on property boxes in the user interface. Dynamic LOVs show a list of values obtained dynamically by querying the database.
Dynamic lists of values are not static but change as the data in the database changes. They allow end users to select from lists composed of data that is active in the database.

The above diagram displays the list of items which are associated to a project. End user will see the list of item names in the drop down. This drop down will change dynamically based on the items assigned to the project.
