If the .NET framework isn't registered in IIS correctly, then you will not be able to run ASP.NET web applications such as the PROJECT in a box web service and Enterprise Hub.
If the .NET framework 2.0 or above is installed, you can run the Microsoft utility 'aspnet_regiis.exe' to correct problems.
1. Open a command prompt
2. CD to (e.g)
C:\WINDOWS\Microsoft.NET\Framework\v2.0.50727
3. Run the command
aspnet_regiis.exe -i