Inaugurations are large celebrations in honor of the installation of a new president. The inaugurations encompass a series of public events, including a lecture, theatrical production and musical performance. The main reason to stage an inauguration is to introduce the new president and provide a platform for the president to publicly express his vision. The inauguration ceremony should take place within the president’s first year.
Installation is the actual moment on which the president is conferred with the articles or symbols of office.
Investitures are smaller and more private ceremonies . In practice, however, “installation” and “investiture” are often incorrectly used interchangeably.
Source: Harris, April L. ACADEMIC CEREMONIES: A HANDBOOK OF TRADITIONS AND PROTOCOL. 2005.