SAP TM – Tracking without Event Management
what Hari wrote above means that there is some basic functionality available in SAP TM to report and process events in SAP TM without integration to SAP EM, e.g. you can report events via the execution tab and this can change the execution status in TM. However, there is no monitoring functionality, no rule set and no support for expected (planned) events in SAP TM without integration to SAP EM. SAP TM offers no service/interface which can be connected to 3rd party system to achieve similar functionality in the standard.
So the answer to your question is no: It is not possible to plan and track events in SAP TM without intergration with SAP EM in the standard.
Best regards, Daniel