Draw a template on the ceiling tile using a pencil to designate the hole location and diameter. If the object is already installed in the ceiling, hold the panel up to it and trace around it. If the object is not yet installed, place the panel on a table set the object on top of it to trace around it.
Place a piece of plywood or cardboard on a table to protect the surface from damage. Set the ceiling panel on top of it with the finished side facing up.
Insert a utility knife into the panel at the location of the line. Press down with firm pressure and pull the blade around the line using a smooth motion until reaching the starting location.
Examine the cut line to see if it penetrates all the way through the panel. If not, run the blade around the perimeter of the line once more to finish the cut. Push the center portion out of the panel and then install the panel as desired.