This document proposes the VF (Virtual Functions) Event Streaming (VES) Project to develop a common event streaming format and collection system to reduce effort for integrating virtual network function (VNF) telemetry data into automated management systems. It describes the objectives, scope, and deliverables of the project, including a common event data model, VES agent and collector, and integration with OpenStack services. Use cases are provided to illustrate how the framework could reduce costs by 80% for supporting subsequent VNFs. Code components and a reference VNF are referenced.