You probably meant TSP, which stands for Team Software Process.
TSP is also designed for smaller teams (2-20) but is a relatively heavyweight process when compared to Agile methods. TSP is highly structured, and involves heavy documentation--every step of the lifecycle is described using scripts and requires keeping detailed metrics using forms. You also need engineers trained in TSP (as well as PSP, which is a prerequisite for TSP)
In comparison, Agile techniques (generally) involve far less documentation and are much more flexible.
Which one is right for you? Like the answer to all good software engineering questions, it depends. If you have the luxury of time, and if you meet the prerequisites, TSP will make it easy for you. On the other hand if you desire rapid results, XP or Scrum might be more suited for your project.