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-Premiere Pro Video Editing Information FAQ http://forums.adobe.com/message/4200840
That MAY be a permission issue
Run as Administrator http://forums.adobe.com/thread/969395 to assign FULL Windows permissions may help... this says Encore, but is sometimes required for ALL Adobe programs (this is NOT the same as using an Administrator account) so follow the instructions, substituting the name of your specific program for Encore
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Sorry for the trouble. This issue is under investigation, Engineering is working on a fix. Please use a different name if you want to perform a Save-As or just use Save option as a workaround.
Also using just Save there's the problem. I save everytime with a different name and then I delete the old project. But this is not the solution. It also happens with projects created some time ago in which the problem did not arise. the cause is not in the settings