Activity that consists in putting off important activities regadless of its importance due to lazyness or incompetence. The individual that procastinates usually just doesn't feel like getting the activity done and postpones it for a laterdate, always being able to find a perfect justification for doing so.
dude 1: hey dude, I really have to get this paper done today but what the heck!! I have enough time to do it tomorrow, it's a cakewalk... let's go look for some party!
dude 2: Dude, you are the master of procastination!!
Time wasting with intent to avoid necessary action. Typically verbalised by those with access to success yet a predisposition towards failure i.e. work-shy students approaching coursework deadlines.
"Are you doing that coursework for tomorrow?"
"No, I decided to put a definition of procrastination on Urban Dictionary instead."
No, seriously. Get back to work. Now. You're procrastinating. I know it. You looked on the definition of 'Procrastination'. You must be doing it. Go. NOW.