If you're using active dry yeast, dissolve it, with a pinch of sugar, in 2 tablespoons of the lukewarm water. Let the yeast and water sit at room temperature for 15 minutes, until the mixture has bubbled and expanded. If you're using instant yeast, you can skip this step.
Weigh your flour; or measure it by gently spooning it into a cup, then sweeping off any excess. Combine the dissolved yeast (or the instant yeast) with the remainder of the ingredients. Mix and knead everything together —by hand, mixer or bread machine set on the dough cycle — till you've made a soft, smooth dough.
To make pizza now: Place the dough in a lightly greased bowl, cover the bowl, and allow it to rise till it's very puffy. This will take about an hour using instant yeast, or 90 minutes using active dry.
To make pizza later: Allow the dough to rise, covered, for 45 minutes at room temperature. Refrigerate the dough for 4 hours (or for up to 24 hours); it will rise slowly as it chills.
About 2 to 3 hours before you want to serve pizza, remove the dough from the refrigerator.
Decide what size, shape, and thickness of pizza you want to make.
Divide the dough in half, for two pizzas; or leave it whole for one pizza.
If you're making a rectangular pizza, shape the dough into a rough oval. For a round pizza, shape it into a rough circle.
Allow the dough to rest, covered with an overturned bowl or lightly greased plastic wrap, for 15 minutes.
Use vegetable oil pan spray to lightly grease the pan(s) of your choice. Drizzle olive oil into the bottom of the pan(s).
Place the dough in the prepared pan(s). Press it over the bottom of the pan, stretching it towards the edges.
Allow the dough to rise, covered, till it's noticeably puffy, about 90 minutes (if it hasn't been refrigerated); or 2 to 2 ½ hours (if it's been refrigerated).
Towards the end of the rising time, preheat the oven to 450°F.
Bake the pizza on the lower oven rack till it looks and feels set on top, and is just beginning to brown around the edge of the crust.
To serve pizza immediately: Remove it from the oven, and arrange your toppings of choice on top. Return to the oven, and bake on the upper oven rack for an additional 10 to 15 minutes.
Remove the pizza from the oven, and transfer it from the pan to a rack to cool slightly before serving.
