Can you tell us all about your computer (more detail, the better), your Project Preset, your source video, and what you are doing, when you get that error message?
These questions below may be for a different product... but the information you need to supply is the same, for the products you use
More information needed for someone to help... please click below and provide the requested information
-Information FAQ http://forums.adobe.com/message/4200840
Is this a "it worked before but not now" type issue or "it never worked" issue?
Then the usual drill for those who are running Premiere Elements 8
a. Are you running Premiere Elements 8 as the 8.0.1 Update?
b. Do you have the automatic Background Rendering and AutoAnalyzer features turned OFF?
For Background Rendering, see Premiere Elements workspace Edit Menu/Preferences/General
For AutoAnalyzer, see Elements Organizer workspace, Edit Menu/Preferences/AutoAnalyzer Options
c. Do you have the latest version of QuickTime installed? Are you working from a User Account with Administrative Privileges? Where are the Scratch Disks directed to and how much free space is at that location?
Then there are the specific questions (some already asked)
Properties of your source media
Computer Resources, including video and audio card driver updates
Let us start here and then decide what next.
Add On...if any of your issues involve opening an existing project, you might want to explore the damaged project side of things as per the following Adobe document