If you’re adding a project portal and/or a reporting site to a TFS 2010 instance after project creation, give Jeremy Jameson’s blog a read…

The instructions at Adding Dashboards and Reports to Upgraded Team Projects wasn’t really clear to me that you had to run the File.BatchNewTeamProject on the server where you were publishing the SharePoint site.  In my case, SharePoint and TFS are on the same server, so it’s easy to figure out how to do it once you realize you can’t be on a “remote” machine.  If you’re in this situation, give Upgrading TFS 2005/2008 Project Sites to TFS 2010, Part 1 - Agile Dashboard Features - Jeremy Jameson a quick read.