I had the need today to run two copies of Microsoft Test Manager (aka MTM.EXE) so that I could copy data from a Test Case from one Team Project to another. Unfortunately, MTM.EXE is a single-instance application. I considered a few different options including RDP to another machine or account. Thankfully, I got a great tip from a fellow VS ALM geek, Anna Russo.
The trick you ask? Duplicate MTM.EXE and MTM.EXE.CONFIG and rename. I chose to create MTM2.EXE and MTM2.EXE.CONFIG. And there you go, two instance of MTM running side-by-side.

Thanks Anna for the tip. You’ll find MTM.EXE at %Program Files%\Microsoft Visual Studio 10.0\Common7\IDE. You’ll of course need Administrator rights to duplicate the files in that directory.