There is a conflict in the project metafile (.PJM file).
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You edited the .PJM file directly.
Restore the file to a previous version and use the interface to make changes: undo the checkout of the .PJM file and update the project list.
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There is a conflict in the project information section of the .PJM file.
Resolve the conflict by removing complete lines only, if possible.
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The formatting in the project metafile is incorrect.
For example, some information has an unexpected data type, or commas are misplaced.