This document provides an overview of Microsoft Team Foundation Server (TFS) 2008. It notes that on average, software projects experience cost overruns of 45%, time overruns of 63%, and only deliver 67% of planned functionality, with a success rate of just 30%. TFS 2008 aims to address challenges like lack of requirements management, disparate tools, limited visibility and communication. It features version control, work item tracking, reporting, build automation, collaboration, process guidance and integration capabilities to help teams develop software more effectively.