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This error occurs when you type a name for the new team project that duplicates the name already being used by another team project in the same collection. There are two likely causes for this problem:
There is actually a team project with the same name.
Someone previously attempted to create a team project with the same name, but the wizard did not complete the creation and failed to remove all records of that team project.
To correct this error
- Type a different name for the new team project.
If you are sure that the name you typed is not being used by a team project on Team Foundation Server, contact your administrator for the server and ask him or her to run the TFSDeleteProject command-line utility to free the name.