sharepoint user control

We are currently using outlook and exchange to reserve / book rooms and resources at our company. We set up a mail box for the resource and share the calendar so that others can use it. We are looking at changing to Sharepoint Foundation 2010 to do this with the group calendar. The questions is can sharepoint 2010 control users like outlook? We would need to have two accounts:

1. IT Dept (To add / delete / modify calendars)
2. user (To reserve resources, to view all reserved resources already setup by all users, and edit only there own reserves).

I am just wanted to know if it is possible to setup Sharepoint to do this?