KB34178: "Cannot access MicroStrategy Web Services at http://Server_Name/MicroStrategyWS/MSTRWS.asmx. Web server error is: The operation has timed out" error appears when trying to connect from MicroStrategy Office

SYMPTOM
When trying to connect to through Strategy Office, following error message is received.
 

 
Cannot access Strategy Web Services at http://Server_Name/StrategyWS/MSTRWS.asmx. Web server error is: The operation has timed out
 
 
CAUSE
One of the possible cause is that httpRuntime execution timeout was reached before Strategy Office was able to establish a connection to Web Services.
 
ACTION
Increase the httpRuntime execution timeout following below Technical Note:
KB35666: How to edit the setting for the Request execution timeout for ASP.NET installations in Internet Information Services (IIS) 7 and Strategy Web 9.x