Steps To Create New Project/Team On TFS
Select New item from drop-down tab that will be on left of Dashboard tab. On click New Items from drop-down will open Create new team pop-up:- Put new Team name > Give Description > Select permissions (if permissions is already there else create a new permissions). Create a new sprint:- Click on iteration > New > Add Iteration name > Start Date & End Date > Click Save and close button. Go to newly created project/team dashboard. Click Backlog in Work area Newly created sprint will be show in Backlog items:-