It will be displayed, if you don't have ProjectIni entry in the project (.vtp) file or this option isn't specified.
You must have
<font color="blue">ProjectIni=<project ini filename></font>
under [ProjectProfile] section in vtp file.
Let me tell you what I am doing. I am creating a project file, project ini files and all the associated files like frame file, script file etc. The difference is I dont create it with Silk Test but do it manually. I add all the details about ini file in the .vtp file. But still when I try to open the .vtp file, I get this error and when I check the .vtp file, all the previous entries are erased
Before opening the project make sure ProjectIni=<project ini filename> entry is in vtp file (edit and save vtp file in notepad). Only then try to open the project. Every time you're closing the project SilkTest overwrites the corresponding project (.vtp) file.