Much research has been undertaken to define what a virtual enterprise is and how it should work. This paper addresses the specific question, how a virtual enterprise can be designed to have the agility to support short-term business opportunities. A framework is presented for the organizational design and the changing business roles of the business architect who constructs the various phases of the virtual enterprise's lifecycle. This infrastructure for creating virtual enterprises is referred to as the “value system designer”; a set of methods and tools to select partners, re-engineer business- and logistic processes and to set up an information and communication platform for the virtual enterprise. The methods and tools have been developed in two longitudial research projects TELEflow and the Virtuelle Fabrik between 1995 and 1999. Focusing on the experiences gained from numerous cases, a summary on crucial success factors for designing virtual enterprises shall be presented. Thus, this paper gives insights and applicable know-how for companies and managing engineers in their role as virtual enterprise architects, for example leaders of project consortia or joint ventures or as first-tier suppliers co-ordinating supplier (sub-) nets.