How much preparation does it require on my part?

Answer:

We have tried to make things simple for you by providing step-by-step guidelines with each stage and each activity.

The minimum you will have to do, therefore, is to read those guidelines carefully ahead of time before you assign the activities to your students.

The forums present a unique challenge, in the sense that you will need to check almost everyday (depending on your class schedule) what new postings have appeared on the Web. This will occasionally force you to slightly change your plans at the last minute.