Hi,
Keep in mind this is not a replacement for a calendar, but rather a group work-management tool based on the Kanban methodology.
My suggestion is to try using Planner as your "situation room" for your team's work - the place were you go every day to track what's being worked on, and what's coming next.
Also, work with your team to keep it updated as work progresses. For example, if you get everyone to update tasks as they go, you will see you status update meetings becomes really short, as all the information is already there.
Take a quick look at Kanban. It's a simple and powerful way to work. https://subscription.packtpub.com/book/business/9781783000906/1/ch01lvl1sec04/the-six-core-practices-of-kanban and https://support.office.com/en-us/article/microsoft-planner-help-4a9a13c6-3adf-4a60-a6fc-15c0b15e16fc?ui=en-US&rs=en-US&ad=US.
Best,
Pablo