The virtual control panel (VCP) is one way to get remote control panel (RCP) functions on the PC.
This is accomplished by using the serial cable and connection of a directly cabled console. There is no requirement for network adapters on the PC or server with VCP. You will, however, create a configuration that uses the network path in the Operations Console install wizard. You will also be required to have an unused service tools device ID available for the VCP connection. If your console uses the network connectivity already, you should be using the remote control panel option available for that configuration rather than VCP.
The VCP allows for nearly all the same functions as the RCP. The GUI is the same for the VCP as it is for the RCP - only the connectivity is different. Due to its differences in connectivity, the VCP cannot, for example, be used to power on a system or a partition. The VCP function will work with the V5R2 or later version of Client Access Express Client communicating to a V5R2 or later release iSeries™ server.
The VCP uses a TCP/IP connection on the Operations Console cable. You have to have a directly-cabled console configured and connected in order to use the VCP. The VCP can not be used to replace a parallel-connected RCP-only configuration. The VCP will require an additional configuration.
http://www-1.ibm.com/servers/eserver/iseries/clientaccess/casp.htm