Create new Team Project TFS 2012 after upgrade from TFS 2008

Question

We recently upgraded our Team Foundation Server 2008 to Team Foundation Server 2012 and now when we try to create a new team project it throws the following error:

Module: Engine
Event Description: TF30162: Task "Populate Reports" from Group "Reporting" failed
Exception Type: Microsoft.TeamFoundation.Client.PcwException
Exception Message: The Project Creation Wizard encountered an error while creating reports to the SQL Server Reporting Services on http://testtfs/ReportServer/ReportService2005.asmx.
Exception Details: The Project Creation Wizard encountered a problem while 
creating reports on the SQL Server Reporting Services on http://testtfs/ReportServer/ReportService2005.asmx. 
The reason for the failure cannot be determined at this time. 
Because the operation failed, the wizard was not able to finish 
creating the SQL Server Reporting Services site.
Stack Trace:
   at Microsoft.VisualStudio.TeamFoundation.PCW.RosettaReportUploader.Execute(ProjectCreationContext context, XmlNode taskXml)
   at Microsoft.VisualStudio.TeamFoundation.PCW.ProjectCreationEngine.TaskExecutor.PerformTask(IProjectComponentCreator componentCreator, ProjectCreationContext context, XmlNode taskXml)
   at Microsoft.VisualStudio.TeamFoundation.PCW.ProjectCreationEngine.RunTask(Object taskObj)
--   Inner Exception   --
Exception Message: The item '/TfsOlapReportDS' cannot be found. (type ReportingServiceException)
Exception Stack Trace:    at Microsoft.TeamFoundation.Client.Reporting.ReportingUtilities.ConvertException(SoapException e)
   at Microsoft.TeamFoundation.Client.Reporting.ReportingUtilities.HasPermissions(ReportingService proxy, String itemPath, String[] permissions)
   at Microsoft.TeamFoundation.Client.Reporting.ReportingUtilities.CheckPermissions(ReportingService proxy, String itemPath, String[] requiredPermissions)
   at Microsoft.TeamFoundation.Client.Reporting.ReportingUploader.Validate()
   at Microsoft.VisualStudio.TeamFoundation.PCW.RosettaReportUploader.Execute(ProjectCreationContext context, XmlNode taskXml)

Inner Exception Details:

Exception Message: The item '/TfsOlapReportDS' cannot be found. ---> Microsoft.ReportingServices.Diagnostics.Utilities.ItemNotFoundException: The item '/TfsOlapReportDS' cannot be found. (type SoapException)SoapException Details: <detail><ErrorCode xmlns="http://www.microsoft.com/sql/reportingservices">rsItemNotFound</ErrorCode><HttpStatus xmlns="http://www.microsoft.com/sql/reportingservices">400</HttpStatus><Message xmlns="http://www.microsoft.com/sql/reportingservices">The item '/TfsOlapReportDS' cannot be found.</Message><HelpLink xmlns="http://www.microsoft.com/sql/reportingservices">http://go.microsoft.com/fwlink/?LinkId=20476&amp;EvtSrc=Microsoft.ReportingServices.Diagnostics.Utilities.ErrorStrings&amp;EvtID=rsItemNotFound&amp;ProdName=Microsoft%20SQL%20Server%20Reporting%20Services&amp;ProdVer=11.0.5058.0</HelpLink><ProductName xmlns="http://www.microsoft.com/sql/reportingservices">Microsoft SQL Server Reporting Services</ProductName><ProductVersion xmlns="http://www.microsoft.com/sql/reportingservices">11.0.5058.0</ProductVersion><ProductLocaleId xmlns="http://www.microsoft.com/sql/reportingservices">127</ProductLocaleId><OperatingSystem xmlns="http://www.microsoft.com/sql/reportingservices">OsIndependent</OperatingSystem><CountryLocaleId xmlns="http://www.microsoft.com/sql/reportingservices">1033</CountryLocaleId><MoreInformation xmlns="http://www.microsoft.com/sql/reportingservices"><Source>ReportingServicesLibrary</Source><Message msrs:ErrorCode="rsItemNotFound" msrs:HelpLink="http://go.microsoft.com/fwlink/?LinkId=20476&amp;EvtSrc=Microsoft.ReportingServices.Diagnostics.Utilities.ErrorStrings&amp;EvtID=rsItemNotFound&amp;ProdName=Microsoft%20SQL%20Server%20Reporting%20Services&amp;ProdVer=11.0.5058.0" xmlns:msrs="http://www.microsoft.com/sql/reportingservices">The item '/TfsOlapReportDS' cannot be found.</Message></MoreInformation><Warnings xmlns="http://www.microsoft.com/sql/reportingservices" /></detail>
Exception Stack Trace:    at Microsoft.TeamFoundation.Client.Channels.TfsHttpClientBase.HandleReply(TfsClientOperation operation, TfsMessage message, Object[]& outputs)
   at Microsoft.TeamFoundation.Client.Channels.TfsHttpClientBase.Invoke(TfsClientOperation operation, Object[] parameters, TimeSpan timeout, Object[]& outputs)
   at Microsoft.TeamFoundation.Client.Reporting.ReportingService.GetPermissions(String Item, String[]& Permissions)
   at Microsoft.TeamFoundation.Client.Reporting.ReportingUtilities.HasPermissions(ReportingService proxy, String itemPath, String[] permissions)

We don't have TfsOlapReportDS but we have Tfs2010OlapReportDS. If we need the TFSOlapReportDS, then what do i need to do or how can i change the team project creation wizard to use tfs2010olapreportds?

I have found that Process Template used by TFS has a ReportsTasks.xml file which is referencing TFSOlapReportsDS instead of TFS2010OlapReportsDS.