You're talking about the project settings, actually. And, no, technically they can no be changed mid-project. They can only be set when you being your project.
However, I believe you can hack into the .prel file and change it, which a number of people have been successful doing.
If you post on the Community Forum at Premiere Elements support site http://Muvipix.com, I'm sure someone there will know how.
Thanks for your reply and correction, Steve. I will investigate changing of the .prel file in the original project and see what happens.
Looking at the .prel files (which if I click on one opens the associated project) it seems that manipulation of any project setting hidden within would require some sote of code reader which is beyond my capabilities. I will press on with redoing the project :-)
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No code reader needed. You can edit the .prel file if you open it in Notepad.
Again, the folks on Muvipix.com know how to do this relatively easily.
So you can! Looks a bit formidable to me though. I think I should stick to redoing the current video and remembering to put the right project settings in next time.