Symptoms

Attempting to open a K2 project via K2 Studio errors with:
Exception has been thrown by the target of an invocation.

Attempting to open a K2 project via K2 for Visual Studio 2012 errors with:
Unsupported
This version of Visual Studio does not have the following project types installed or does not support them. You can still open these projects in the version of Visual Studio in which they were originally created.
 

Diagnoses

K2 Studio error stack trace:
SourceCode.Configuration.ConfigurationNotInitializedException: Please ensure that the needed configuration nodes(s) are configured in your configuration file E:Program Files(x86)K2 blackpearlK2StudioK2Studio.exe.Config. Please refer to the help documentation for further details.
at
SourceCode.Configuration.ConfigurationManager.CheckIsConfigurationInitialized()

After changing the value in this configuration file to the correct directory, a new error was thrown:

System.IO.FileLoadException: Could not load file or assembly 'bINSTALLDIR]BinSourceCode.Workflow.Interop.dll' or one of its dependencies. The give assembly name or codebase was invalid. (Exception from HRESULT: 0x80131047)
 

Resolution

A removal and re-installation of the K2 Client components using the installation files > Modify option resolved these errors.