Project management is an important activity to ensure successful development of a project. It is the practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria at the specified time.

Procurement is the process of finding, agreeing terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process.

Project payments are the amount of invoice paid based on the delivery of equipment or on the basis of completed works