Deployment of an application failing while using serviceaccount

Issue

• When using a serviceaccount to provision a new application, following error occured:

# oc new-app . --name=$XX_PROJECT_NAME --strategy=docker

warning: Cannot find git. Ensure that it is installed and in your path. Git is required to work with git repositories.
--> Found Docker image 2671f7a (5 weeks old) from Docker Hub for "centos:centos7"
    * An image stream will be created as "centos:centos7" that will track the source image
    * A Docker build using binary input will be created
      * The resulting image will be pushed to image stream "NAMESPACE:latest"
      * A binary build was created, use 'start-build --from-dir' to trigger a new build
    * This image will be deployed in deployment config "NAMESPACE"
    * Port 80 will be load balanced by service "NAMESPACE"
      * Other containers can access this service through the hostname "NAMESPACE"
    * WARNING: Image "centos:centos7" runs as the 'root' user which may not be permitted by your cluster administrator
--> Creating resources ...
    error: User "system:serviceaccount:NAMESPACE:xyz" cannot create imagestreams in project "NAMESPACE"
    error: User "system:serviceaccount:NAMESPACE:xyz" cannot create imagestreams in project "NAMESPACE"
    error: User "system:serviceaccount:NAMESPACE:xyz" cannot create buildconfigs in project "NAMESPACE"
    error: User "system:serviceaccount:NAMESPACE:xyz" cannot create deploymentconfigs in project "NAMESPACE"
--> Failed
    error: User "system:serviceaccount:NAMESPACE:xyz" cannot create services in project "NAMESPACE"