Control panels are integral part of any hosting environment. There are number of control panels available in market for managing their website hosting account. you can have windows as well as linux based control panel for managing you account. cPanel is most popular with Linux where as you can have Plesk for windows. Almost all website hosting service  provider provides you control panel with their hosting plans.
Some include them for free while few host charge them separately. Usually all shared and reseller hosting plans do come with free control where as for higher hosting plans such as VPS or Dedicated servers You will have to pay extra for geting control panel.
As you manage your website hosting account in shared/reseller hosting environment similarly you can do so in VPS/Dedicated environment. You have ability to create multiple clients, email accounts, FTP and all other features which you use to do in shared environment.
A control panel is better solution for a webmaster who is new to VPS hosting environment nad have little or no idea of managing server. Without control panel it can be difficult to manage your VPS as you need to know all complex commands for managing your server which can be troublesome for newbie or even a expert webmaster. Using control panel you can easily administer your server through it’s graphical interface and can install all required applications and softwares for your hosting account. If you have good knowledge of managing server then you might not need a control panel but it;s always preferred to have one with your VPS/Dedicated account.
Control panel ease your life and will allow you to do more productive work then administrating your server.

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