Howtoforge published a guide about installing OpenVZ with HyperVM on CentOS 5.2

HyperVM is a multi-platform, multi-tiered, multi-server, multi-virtualization web based application that will allow you to create and manage different virtual machines each based on different technologies across machines and platforms. Currently it supports OpenVZ and Xen virtualization and is available for RHEL 4/5 as well as CentOS 4 and CentOS 5. This tutorial shows how to install it on a CentOS 5.2 server to control OpenVZ containers. I will also explain how to manage OpenVZ containers with HyperVM on a remote CentOS 5.2 server ("slave").

Managing OpenVZ With HyperVM On CentOS 5.2