planning vs preparation

planning and preparation both are nouns.

Word	Noun	Adjective	Verb	Adverb
planning	Yes	No	No	No
preparation	Yes	No	No	No

As nouns, preparation is a hypernym of planning; that is, preparation is a word with a broader meaning than planning:

planning: an act of formulating a program for a definite course of action
preparation: the activity of putting or setting in order in advance of some act or purpose

Other hypernyms of planning include readying.

As nouns, planning and preparation are synonyms defined as:

planning and preparation: the cognitive process of thinking about what you will do in the event of something happening

Other synonyms of planning include provision.

planning (noun)	preparation (noun)
an act of formulating a program for a definite course of action	activity leading to skilled behavior
the act or process of drawing up plans or layouts for some project or enterprise	preparatory school work done outside school (especially at home)
the cognitive process of thinking about what you will do in the event of something happening	the activity of putting or setting in order in advance of some act or purpose
	the act of preparing something (as food) by the application of heat
	the cognitive process of thinking about what you will do in the event of something happening
	(music) a note that produces a dissonant chord is first heard in a consonant chord
	the state of having been made ready or prepared for use or action (especially military action)
	a substance prepared according to a formula