You can enable or disable the backup feature but you can not schedule a backup with Group Policy. You would have to enable it with group policy and then create a script or something to run the backup Computer Configuration\Policies\Administrative Templates\Windows Components\Backup\Client User Configuration\Policies\Administrative Templates\Windows Components\Backup\Client The settings in Group Policy can be found here.

Management of Windows 7 Backup utility (When, What are Where to back up) on domain computers. All done through GPO. Is this possible? Or am i barking up a tree with no cat in it?

You can enable or disable the backup feature but you can not schedule a backup with Group Policy. You would have to enable it with group policy and then create a script or something to run the backup Computer Configuration\Policies\Administrative Templates\Windows Components\Backup\Client User Configuration\Policies\Administrative Templates\Windows Components\Backup\Client The settings in Group Policy can be found here.