You can add a new calendar if you want to maintain a separate calendar for specific projects, a home calendar, and so on. You can also share this calendar with a subscriber, provided you set the correct permissions. For more information on calendar sharing, see: How Do I Share a Calendar?
To add a new calendar:
Click Create or Subscribe to Calendar on the Calendar toolbar on the left pane.
Choose from the following options:
Create Calendar
Subscribe to Calendar
Select Create Calendar.
The Create Calendar window appears.
Enter the following information:
Calendar Name: Name of new calendar
Description: Description of Calendar
Include in Free/Busy Lookup: Check if you want this calendar included in free/busy lookup for scheduling
Timezone: Select your timezone
Color: Select the color for the calendar
Click OK.
A new calendar is created.