Team Foundation Server (TFS) 2012 is a tool for application lifecycle management. It allows users to check code in and out via source control management. TFS 2012 supports both agile methodologies like Scrum and structured processes like CMMI. It offers features like work item tracking, testing tools and services, lab management, build automation, and reporting and analytics to help plan and manage all aspects of the development process. Demo projects are available to illustrate how TFS can be used by various project roles including project managers, business analysts, developers, and stakeholders.