Be able to edit PROJECT CATEGORY Names

IN THE PROJECT TAB, the PROJECT CATEGORY POP UP MENU. In the settings there is only a button to remove. There is no way you can edit the name or Re-arrange the order of the CATAGORIES. This is something basic that should be implemented. IF we need to change a name, there is no way to do it and removing a category and adding a new one it will mess up ALL the projects.