The project seems to be created in the previous version of the product and it is not upgraded to the latest one. To make it work on the latest version of the framework you could:
- Install the version of Test Studio that corresponds to the installed framework and open the project with it. The project would be automatically upgraded to that version of the libraries. (recommended)
- Update the project Settings.aiis file to point to the version of the libraries (ArtOfTest.WebAii.dll... etc) that are available on the execution machines. (not recommended)
I hope that would solve the problem.