Paraskevi/Παρασκευή reflects the "Good Friday" which is a holy day in Christianity. Not just any-old "Friday," but a name with high religious overtones. The Greek naming tradition includes Stavros/Σταύρος meaning "cross", Anastasia/Αναστασία meaning "resurrection", and others. Such religious feeling is also expressed in Spanish with names like Santa Cruz or (Ciudad de) Los Angeles.
This was my mother's name. She was going to be called Maria, after her other grandmother, but then she was born on a Friday, so they used Maria for her little sister and named her Paraskeve for her father's mother. I don't really like this name that much, but it's traditional to name your eldest daughter after your mother (or your husband's mother), and I want to honor my mom. I'll probably call her Para as a nickname, as that's what my mom used.
Paraskeve was a saint who was born on Friday and that's how she got her name, because Paraskeve means Friday in Greek. I praise this saint and wouldn't mind having this name. A short way to pronounce it, at least in Greece, would either be "Voula" and Paresa", for a girl, and "Paris", for a boy.
If I am not mistaken, in this instance the masculine form derives from the feminine rather than the other way around. The word for "preparation" is Paraskeve (feminine).