Live load is the dynamic load, typically anything other than static or dead weight. The static load would be the individual weight of members comprising your assembly, for example. Dynamic is more like the variation in worker weight using the ladder, maximum allowable load carried by an end user, that sort of thing.
In general it is the varying load, in your case, the heaviest bearing intensity the ladder as an overall structure is capable of sustaining. In buildings, dynamic load usually refers to the maximum number of people the floor can withstand to bring it equal to your design factor of safety.
I would take the fattest possible worker, 250 lbf, and the maximum possible lift capability buddy can handle safely on the ladder, say half his weight. Build your ladder to suit 375 lbf dynamic load, factor of safety of two or three.
Kenneth J Hueston, PEng
Principal
Sturni-Hueston Engineering Inc
Edmonton, Alberta Canada