To create a site collection for a new PM Central portfolio, follow these steps.
|1.||In Central Administration, navigate to Application Management > Site Collections > Create Site Collections.
If you are using SharePoint 2007, navigate to Application Management > SharePoint Site Management > Create site Collection.
On the Create Site Collection page, fill in the information as you would to create a regular site collection. However, be sure to select Team Site in the Collaboration tab as the template for the top level site.
When ready, click OK to create the site collection.