Working in Real time BizTalk Server Solution generally involves deploying multiple BizTalk Server Projects in Admin Console. (I work in a BizTalk Solution where there are 15 Projects to be deployed for the entire solution)
In this scenario, Instead of setting an application name for each of the BizTalk Project and deploying them, Create a Default Application in Admin Console and Deploy all the applications). This default application can then be exported to a MSI File.
This will save us the time to give application name for each of the project individually.
Moreover, though you provide any application name for each project, it will not be saved in TFS. Whenever you get a new workspace, you have start all over again.
In these scenarios default application trick works perfect.
Note: This is useful for the first time. However, once deployed, individual projects can be redeployed without the need to deploy the whole solution.
Otherwise, the dll of the individual projects can be reinstalled to GAC. This should be followed by Restarting Host Instances.