I have a cell (A3) that uses Data Validation.

I've managed to create a list for the Data Validation with the values:
Project A
Project B
Project C

If I add or change an entry in the list, it gets updated in the dropdown.
However, if in cell A3, I had previously selected 'Project A', and then later
changed 'Project A' in the list to 'Project AAA', the value in cell A3
remains as 'Project A' . But I want the value in cell A3 to be automatically
changed to 'Project AAA'.

A similar problem had been reported in the discussion thread titled 'Data
Validation/Drop down list automatic update'. Tom Ogilvy responded by saying
a macro using a change event is required. Would you be able to provide me
with the code for this macro?

Thanks