How to avoid multiple checkouts in TFS 2010

If you would like avoid multiple checkouts in a project maintained in TFS 2010, make below configuration settings.

1. Make sure you are a Project Administrator
2. Open Visual Studio 2010
3. Open Team Explorer and connect to you project
4. Right click on the your project name in Team Explorer
5. Go to Team Project Settings > Source Control
6. Make sure that "Enable multiple check-out" is unchecked.