Visual Studio Team System is Microsoft's solution for application lifecycle management. ALM helps software teams tremendously to ensure quality, predictability, etc. Microsoft released VSTS 2005 a few years ago and 2008 in November last year. Now development is underway for the next version of Visual Studio Team System codename "Rosario". You can find more information here http://msdn2.microsoft.com/en-us/vstudio/bb936702.aspx and you can even test-drive the latest bits http://blogs.msdn.com/jeffbe/archive/2008/04/11/april-rosario-ctp-now-available.aspx. If you do, please provide feedback through http://connect.microsoft.com/, which is one of the activities we do as part of the Rosario Technical Adoption Program.