TFS Basic configuration
TFS Advanced configuration
To connect to a team project collection (VS 2010)
- Click Start, point to All Programs, point to Microsoft Visual Studio 2010, and then click Microsoft Visual Studio 2010.
- On the Team menu, click Connect to Team Foundation Server.
- In the Team Foundation Server list, click a server that is running Visual Studio Team Foundation Server.
- In the Connect to Team Project dialog box, select from the Team Foundation Server list the server that contains the team project collection to which you want to add your team project.
- Click the name of the project collection to which you want to add your team project from the Directory list.
To create a team project (VS 2010)
- In Team Explorer, right-click the project collection, and then click New Team Project.
- On the Select a Process Template page, click a process template from the Which process template should be used to create the team project.
MSDN: Application Lifecycle Management with Visual Studio Team Foundation Server