Add New Project in Team Foundation Server Collection

To add a new project to your Visual Studio Online, follow the procedure given below.

Login to your Visual Studio Online instance.
In the Home page of Visual Studio Online instance, there would be an area called Recent Project & Teams.
In that area, there are options to create a new project and to browse the existing projects. Click on ‘New‘ to create a new project.
This will open a dialog box CREATE NEW TEAM PROJECT.
Enter the appropriate details for fields ‘Project Name‘and ‘Description‘
Select an appropriate process template in ‘Process Template‘.
Select the option Team Foundation Server Version Control in version control field.
Click on the ‘Create Project‘ button.
This will show a dialog box Team Project Information will appear. Which means your new project has been successfully created with appropriate process template.