1. protect your floor. Cover it with plastic sheets, tape seams and edges. Then protect the plastic with 1/4" plywood or heavy cardboard or equiv. 2. Pull all the plaster and laff (sp?) off the studs. The laff is the small boards that the plaster is attached to. Hopefully you don't have wire laff b/c it is sharp, strong and tough to remove without a lot of bother. PLEASE make sure you have had adequate eye protection on the whole time (safety glasses) and also a good (3m) dust mask, good gloves and a hair covering to keep the dust out of your hair. bang in or remove any nails sticking out of the studs. Clean up and throw away everything. You should probably remove floor coverings, clean and put new ones down (if you are working on a finished floor). 3. Check the framing to make sure you have adaquate blocking at the ceiling and inside vertical corners. Run any phone, network, thermostat or electrical wires now b/c you can't once it is plastered. 4. Exterior walls need insulation and either paper (on the insulation) OR plastic sheet vapor barrier. 5. Get 1/2" drywall. Put on ceiling first. You need a special "t" square to make it easier to cut the drywall. Score the front side with a razor knife, then snap the piece on that cut and then cut the back paper to complete the cut. Rent a screw gun or buy a special adapter for your power drill. These tools set the screws so they are slightly depressed from the finish, but DO NOT break through the paper. If your fasteners break through the paper you will have "screw pops" later on. Also get a few helpers and/or rent a drywall lifter from your rental center to hold the sheets against ceiling (horizontally) while you fasten it. Then set the top wall sheets tight to the ceiling, then the bottom sheet. If your walls are more than 8' high you may want to hold the bottom sheet to the floor and fill in a strip in the middle so that you don't add another horizontal seam all the way around the room. 6. Apply self adhesive fiberglass mesh tape to all joints, including inside corners (or learn how to use paper tape). Put joint compound on all joints and screw holes (this is a whole separate post, maybe go to a clinic at home depot to pick up pointers in person). 3-4 coats later you are done. You need to sand between coats with a special mesh screen on a pole sander. Don't put too much on in any one coat because you will just have to sand it later. Sanding is the worst! You don't want to build up the screw holes just fill in and scrape excess off for 3 coats, practically no sanding. Don't sand too much or agressively on the drywall paper b/c it will get all ratty and will show through the paint. 6. Wait for other posts to fill in whatever I glossed over. 7. Wait for a few days for all to cure and then primer and paint.