AX 2012 Project Accounting- 'Item requirement' not found

I have AX 2012 R2 with Contosso demo data loaded. System is working fine.
I started exploring Project Accounting, but I am unable to locate Item requirement option under the following path.
Project management and accounting > Common > Projects > All projects

· Select or open a project

On the Action Pane, on the Manage tab, in the New group, click Item task, and then Item requirement

(I am using the company USMF)

I am unable to find ITEM REQUIREMENT for any project over there.