What’s the Difference Between Parenting Plans and Parenting Orders?

A parenting plan is an informal written parenting agreement that includes parenting and care arrangements for children but has not been formally approved by the Federal Circuit and Family Court of Australia (FCFCA). Parenting orders (or consent orders) are written parenting agreements that have been approved by the FCFCA.

But what are the pros and cons for both parenting plans and parenting orders.