[subject] + 准备 + [verb phrase]
[subject] + 准备 + [noun]
[subject] + 准备好 + 了
准备 before a verb phrase means "get ready to" or "be going to". It covers both the intention and the preparations, so the action is usually close.
Followed by a thing, 准备 means "prepare". English says "prepare for an exam"; 准备 takes the exam directly, with nothing in between.
好 after 准备 says the preparations are finished. 准备好了吗 is the usual "are you ready?".
Both can mean "plan to". 打算 states the decision. 准备 says the plan is near and you're already getting ready for it.
不准备 means "not planning to". 没准备 says the preparation didn't happen.