In the latest Version\Build there is indeed no 'Scheduled Scan'. This is due to the methodology in which the (New) scanning engine functions. You can always perform a Manual On Demand scan by 'Right Clicking ' your McAfee Icon,and select either a Full\Quick scan.
A FAQ is being created to fully explain the new Version.
All the Best,
The new McAfee anti-malware strategy is built around the idea that protection does not have to slow you down. Regularly-scheduled full scans can have an impact on PC performance, and hence the change.
Still, it WAS an option, to be scheduled, IF AT ALL, when the user or admin desires, so this would ideally be around breaks, etc. It was a very outstanding alternative to the human memory, which fails at the most opportune times. What are the chances we can get it back? I think it made Total Protection and similar McAfee products with the Scan Schedule not only competitive in the market place but VERY useful.
Along the same lines as Selvan stated:
The new McAfee anti-malware strategy is built around the idea that protection does not have to slow you down.
Therefore, instead of having regularly-scheduled full scans which can have an impact on PC performance, our security software now looks at files only when you open or execute them.
The new LAM architecture is built on On-Access scanning, where our security software looks at files only as they are executed or accessed.
This way, it prevents infection without having to regularly scan every file on your PC making it as safe as (or safer) than the Real-Time Scanning feature, but with better performance
Hope this helps...