Code Review: What is a peer code review?
A code review is the process of making source code available for other developers to review with the intention of catching defects and design errors which in turn results in improved product quality and improved coding skills through information sharing.

Quote:
“Code Reviews Add Value:
– Bugs are uncovered earlier in the life cycle
– Best practices are shared.
– Refactoring and code simplification are encouraged.”
– Forrester Consulting

Application:
The value of performing code reviews is well known, but still not everyone does them. One of the biggest roadblocks to performing a code review is the hassle associated with packaging source code for a review. Fortunately, with tools like TFS 2012, you can use the “Request Code Review” feature to request a review on a set of changes you recently made.

References
The Value and Importance of Code Review