There's no substitute for laying out a project ahead of time so you can see what it will look like in real life.
The small blue tape is (mostly) showing where studs are located. The long strips of blue are where the edges of the facade will rest. Having laid it out my wife felt it was too narrow and she was correct. Before even purchasing materials we re-adjusted to be six inches wider on each side -- discovering this early is key!
The TV mount will need to be anchored to two studs. Our studs are not quite centered on the wall, but they did almost perfectly line up with where we had the TV in the first place so we went with it.
Here are my notes form planning. You can see some angle calculations to help determine how high to mount the TV. These didn't work out and there doesn't seem to be a rule of thumb here. Good luck.
The rest of it is planning for sheets of plywood to serve as the mounting surface for the weathered boards. The plywood will be about 1" narrower than the finished facade. I've planned to use 2"x2" lumber running vertically along each stud. Nominally this will deliver a 1.5" chase for cords.