VS : How to solve error - The project file could not be loaded. Could not find a part of the path

I recently rearranged the content of my working folder which is used to store all my coding-related projects. But after doing that I had a problem loading the solution of my WinForm project in Visual Studio as I received an error telling me about a problem with a project file.

The exact error message in the Output window was:

error  : The project file could not be loaded. Could not find a part of the path...

Another way you can encounter this error is if you renamed your project folder and sometimes you can get this error without moving or renaming anything at all. In this article, you will be shown how to solve this problem for all those cases.