Microsoft Team Foundation Server (TFS) 2010 is the collaboration platform at the core of Microsoft’s application lifecycle management solution. In addition to core features like source control, build automation and work-item tracking, TFS enables teams to align projects with industry processes such as Agile, Scrum and CMMi via the use of customable XML Process Templates.
Since 2005, TFS has been a welcomed addition to the Microsoft developer tool line-up by Government Agencies of all sizes and missions. However, many government development teams consistently struggle with leveraging an iterative development process all while providing the structure, visibility and status reporting that is required by many Government, waterfall-centric, project methodologies.
GovDev is an open source, TFS Process Template that combines the formality of CMMi/Waterfall with the flexibility of Agile/Iterative:

The GovDev for TFS Accelerator also implements two new custom reports to support the customized process and provide the real-time visibility across the lifecycle with full traceability and drill down to tasks, tests and code:

The TFS Accelerator contains:

• A custom TFS process template that implements a requirements centric, yet iterative process with extreme traceability throughout the lifecycle.
• A custom “Requirements Traceability Report” that provides a single view of traceability for the project.   Within the Traceability Report, you can also view live status indicators and “click-through” to the individual assets (even changesets).
• A custom report that focuses on “Contributions by Team Member” tracking things like “number of check-ins” and “Net lines added”. 
• Fully integrated documentation on the entire process and features.

For a 45min demo of GovDev, visit: https://msevents.microsoft.com/CUI/EventDetail.aspx?EventID=1032508359&culture=en-us

Download it from Codeplex here.