This page explains what you'll need to get started. A resource is a schedule in Corporate Time that isn't assigned to a person. Resources can be created for booking or reserving meeting rooms, laptop computers, overhead projectors, and labs. Resources are assigned an account and a schedule in Corporate Time, much like an account for a person. The major difference is that there is no fee for setting up a bookable resource.
Some departments also use resource schedules as a way to handle calendars of events.
For example, your department could set up a resource as a place where people can book their vacations, so that you can easily see who's on vacation at any given time. Let's suppose your department sets up a meeting room as a Corporate Time resource. Once the room is on the system, it becomes visible in Corporate Time's list of resources. You have complete control over who can see the schedule for the room, and who can book it.