BEA-149205 Failed to initialize the application 'reports

weblogic.management.DeploymentException:
        at weblogic.application.internal.flow.BaseLifecycleFlow$CreateListenerAction.run(BaseLifecycleFlow.java:184)
        at weblogic.security.acl.internal.AuthenticatedSubject.doAs(AuthenticatedSubject.java:321)
        at weblogic.security.service.SecurityManager.runAs(SecurityManager.java:120)
        at weblogic.application.internal.flow.BaseLifecycleFlow$BaseAction.invoke(BaseLifecycleFlow.java:112)
        at weblogic.application.internal.flow.HeadLifecycleFlow.createListener(HeadLifecycleFlow.java:117)
        Truncated. see log file for complete stacktrace
Caused By: java.lang.ClassNotFoundException: oracle.reports.admin.runtime.lifecycle.ReportsVersionLifecycleListener
        at weblogic.utils.classloaders.GenericClassLoader.findLocalClass(GenericClassLoader.java:297)
        at weblogic.utils.classloaders.GenericClassLoader.findClass(GenericClassLoader.java:270)
        at java.lang.ClassLoader.loadClass(ClassLoader.java:425)
        at java.lang.ClassLoader.loadClass(ClassLoader.java:358)
        at weblogic.utils.classloaders.GenericClassLoader.loadClass(GenericClassLoader.java:179)
        Truncated. see log file for complete stacktrace


If this error is observed during the starup of weblogic server,the reason is of incorrect CLASSPATH. Validate the classpath from the log and try to re-start the application