When managing builds from the Team Explorer in Visual Studio it's only possible to start builds and to look at build results. It is not possible to stop a running build or to delete builds from the history list. There is a command-line utility (TFSBuild.exe) that allows this but it would be nice to have a common place for all there administrative functions. There is also no way automate a clean-up procedure that based on rules makes sure that only particular builds are kept in the repository.
TFSBuildLab supports manually stopping and deleting builds. It also supports automation of clean-up jobs where we can define which builds of particular qualities that are kept for a defined number of builds. These rules for build clean-up are called retention policies.