Setting up the Ventilator PRIOR to intubation should be part of the Pre-Intubation Checklist procedure
Ventilator settings will vary depending on the clinical scenario, patient and pathology.
This QUICK  REFERENCE  SHEET (PDF HERE) is designed to guide the initial ventilator settings for most ED Resuscitation scenarios.Ventilator settings

 
The theory behind Ventilator Management can be very confusing.  This 20 minute video lecture covers all the basic and normal physiology of Ventilation and Oxygenation in critical care.