In this article, we have studied time-efficient schedule and fault-tolerant design of partitioned array processors for neural networks. First, we have applied the locally-sequential-globally-parallel (LSGP) partitioning scheme to decompose large-size neural network algorithms so that they can be mapped into array processors of smaller size. Then we have derived an optimal latency schedule, i.e., for the same decomposition the schedule outperforms any other schedule, in terms of overall execution time. We have further proposed an algorithm-based fault tolerance (ABFT) method to guarantee higher reliability for the array processor implementation.