the Project releases module did not create a vocabulary called "Project release API compatibility!

I installed the Project module, and I made sure that the taxonomy core module was enabled first.
After enabling 'Project' and 'Project Releases', I see occasional errors like this:

API version an invalid vocabulary is selected. please change it in the options.

I read the project documentation, which under Project Releases says the following:

When the Project releases module is first enabled (assuming the core Taxonomy module is also enabled), the Project releases module will create a vocabulary called "Project release API compatibility". To make changes to this vocabulary go to the categories administration page (Administer > Content management > Categories).

I don't have a "Categories" menu item, but I do have a "Taxonomy" menu item. When I look in Taxonomy, I see that the "Project types" vocabulary has been created, but there is no vocabulary called "Project release API compatibility."

Did I make an installation or configuration error? How can I recover from this?

Thanks,
Dave