Scaled Agile constructs within VSTS

Question

I am creating a new VSTS environment and based on my research, I came up with the following recommendations to our team.

Scaled Agile Concept - Maps to (within VSTS)

1. Company - Team Project
2. Value Stream - Value Area
3. Products - Areas
4. Epics - Epics
5. Features - Features
6. Stories - Stories
7. Tasks - Tasks

Could you please help with pros and cons of this approach?

Alternate is to create a new work item type called "Value Stream" and new work item type called "Products" and link everything through parent-child relationships.

Or are there any other recommendations that you have?

Answer 1

Daniel Mann has provided great explanations for the definitions in case TFS confused by team, area, project, area, iteration:

• A Team Project is an organizational unit for source code, work items, build definitions, release definitions, manual tests, etc. You can have multiple Team Projects per Collection. A Team Project can best be thought of as "a collection of software applications and all of the associated artifacts necessary to plan work, build, test, and release the applications".
• A Team is an organizational unit within a Team Project allowing multiple teams to work concurrently on different aspects of the software portfolio. Each team can have its own backlog, dashboards, etc. Teams are associated to Areas.
• An Area is an organizational unit within a Team Project used for grouping similar work together. An area can be assigned to a Team, meaning any work items that appear in that area are in the domain of that team. Areas can have any hierarchy you want, and the names do not necessarily map to anything like a Team Project name or a Team name.
• An Iteration is used for defining your work item backlogs and sprints/iterations. A team is usually assigned a backlog iteration, and then sub-iterations define the sprints and associated start/end dates for work.

You could also get more information of process template in the following link:

https://learn.microsoft.com/en-us/vsts/work/work-items/guidance/choose-process?view=vsts