I've been working on a project for over a year now (off and on) through Premiere Elements 12. I last opened it December 28th without a problem, but now when I try and edit the project Premiere says that it is "not compatible with the current version of Premiere Elements". I'm almost done and it's for a gift that's coming up soon - starting over would be devastating. Please help!
On what computer operating system is your Premiere Elements 12 running?
Can you open a new project without problems?
If you cannot open a new project then stop and post that information.
If you can open a new project without problems, then please review the following Adobe document
on damaged projects and then let us know if any of it applies to your situation.
We will be watching for your follow up in order to decide what next.