How can I setup RTC workspace for RQM

Hi Chaitra, that's a fairly broad question. It sounds like you are looking to get started with Quality Manager.

Here are some tutorials and information on configuring dashboards:

Getting started with Rational Quality Manager
https://www.ibm.com/support/knowledgecenter/SSYMRC_5.0.2/com.ibm.rational.test.qm.doc/topics/c_get_start.html

Managing your first project with IBM Rational Quality Manager
http://www.ibm.com/developerworks/rational/library/08/1028_kelly1/

Quality dashboard overview
https://www.ibm.com/support/knowledgecenter/SSYMRC_5.0.2/com.ibm.rational.test.qm.doc/topics/m_additohomepage.html?cp=SSYMRC_5.0.2%2F5-8-0-0&lang=en