use 1 column data to replace another column but different format

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excelhelp.JPG

newbie here,

this is an imported sheet from another company, but to input it on to our system it needs a slight re-jig.

Column "R" = words "PRIORITY" OR "STANDARD"

if this is the case i need the column "AM" answers replacing with what ever is in column "R" BUT in a different format i need it with just capital letter at beginning.
ie - "Standard" or "Priority"

is there a way of doing this quickly instead of copy and pasting across?

all help great fully received