Ordinarily I would start off with what computer operating system is involved with your Premiere Elements 11. But, in this case, the problem got pointed to by "Vobulator" in the error message.
In 99.9999% of the cases, this is telling you that you have a stop marker at the end of the last item on the Timeline (or very near the end). That stop marker is not needed there and causes burn to failures.
Please remove that stop marker if it is there, and let us know the outcome.