Explanation/Reference:
* Step 1:
You can communicate with Visual Studio Team Foundation Server by using Microsoft Excel or Microsoft Project. You can start work from Team Explorer, Excel, or Project. Your worksheet or project plan can be tied to a list of work items or a work item query.

* Step 2: Task constraints and dependencies
Team Foundation Server: Tracks predecessor-successor dependencies as work item links for context, but it does not track dependency types, lead and lag time, or work item constraints.
Recommended actions: Use Microsoft Project to manage and update changes to dependencies and constraints.
* Step 3: Use the Team System Gantt view to schedule work in your team project in order to view Team Foundation fields. This split view adds some of the Team Foundation fields to the Microsoft Project Gantt Chart view and changes some Microsoft Project field names to the field names that Team Foundation uses. It is the default view when you first open work items in Microsoft Project.
Reference: Work in Microsoft Excel and Microsoft Project connected to Team Foundation Server Quick Tips and Operational Differences when Tracking Tasks Using Microsoft Project and Team Foundation