Using the calendar in Outlook, you can manage your schedule by setting the calender with appointments, re-ocurring appointments, reminders, and black-out times/dates. To do this...
Open Outlook by double clicking on your Outlook icon on the desktop.
Double click the Calendar tab in the lower LEFT corner of the outlook screen.

Once you open the calender, this screen will open.

From this screen, you click on any day in the current month to open the daily for that day or you can use the arrow cursor on the month calenders to browse to the previous or next months.
To set an appointment, open the day of the month you want to set the appointment.

On line which corresponds to the appointment time, for instance, 2pm, RIGHT CLICK and a dialog box will open with several options.
Choose the NEW APPOINTMENT.
This box will open.

From here, you can enter the subject/name of the appointment, the location, start and end time, and select whether you would like a reminder or not. You can also set it to show that you are busy, free, ect during that appointment so you can schedule other appointments on top of that time frame.

Once you have the appointment informationset, click on SAVE and CLOSE. You have now set the appointment to show on your calender.
To DELETE a calendar event, open the calender and RIGHT click on the appointment you want to delete. Adrop down dialog box will open. Choose delete and click OK. Your appointment will be deleted. If you have this appointment set up for re-occurance, be sure that you are only deleting the one you want.