VSTS doesn't force you to follow a particular sort of software development methodology, but instead it allows you to select a process specifically for the needs of your project and team. The MSF for Agile and MSF for CMMI process frameworks are supplied with VSTS, but a number of other process frameworks are also available:
The process framework used by your team is selected from a list of Process Frameworks displayed by the Create Team Project Wizard. This list reflects the collection of process frameworks installed on your Team Foundation Server.
A process framework specifies the type of metrics your team intends to gather and the sort of reports that are generated from them. It also determines the structure of your project as well as the process guidance that will be made available to your team from their Project Portal.