The terms 'process model', 'phases' and 'milestones' have been broadly replaced in MSF 4.0 with new terminology of 'governance', 'tracks' and 'checkpoints'.
A track encapsulates a set of work streams and activities (a work stream is a sequence of activities) which conclude in a governance checkpoint. Each checkpoint provides an opportunity to authorize continued work on the project or to cancel or suspend the project. A major change in MSF 4.0 is that tracks are not bound to a notion of sequential phases. Instead, MSF 4.0 has strengthened its view of iteration, introducing the terminology of ‘cycles’ which it carefully differentiates from governance. MSF 4.0 defines five cycles as Check-In, Daily Build, Accepted Build, Iteration and Project. MSF4CMMI extends this with the notion of the programme being a sixth cycle.