Hi Balaji,
I feel something went wrong during the steps taken to install and integrate Jaspersoft to PPM.
Try running the commands on PPM server:
--admin jaspersoft syncPPMContext -userName superuser -password superuser
-- admin update jasperParameters
Commands are part of the PPM guides.
I bet the 2nd command would fail. You might want to redo the keystore step, and rerun the commands again.
If it still fails then you may need to drop the Jaspersoft DB and start Jaspersoft install and integration steps over again.
Thanks much,
Sanish