KB9637: "Access denied to 'C:\Documents and Settings\NameOfProfile\My Documents'. Failed to start monitoring file changes" error message occurs when starting MicroStrategy Web.

SYMPTOM:
When launching Strategy Web, the following error message appears:
 
Access denied to 'C:\Directory name...'. Failed to start monitoring file changes.
Description: An unhandled exception occurred during the execution of the current web request. Please review the stack trace for more information about the error and where it originated in the code.
Exception Details: System.Web.HttpException: Access denied to 'C:\Directory name…'. Failed to start monitoring file changes.
Source Error:
An unhandled exception was generated during the execution of the current web request. Information regarding the origin and location of the exception can be identified using the exception stack trace below.
CAUSE:
This issue occurs because of Microsoft ASP.NET failing to monitor a directory path which is set in the Internet Information Server (IIS) configuration, as shown in the screen shot below:
 

 
ACTION:
To resolve this issue, perform the following steps:
 

1. Ensure that all of the directory names in the hierarchy of the Local Path (as shown in the screen shot above) are less than nine characters long.
2. Grant the required permissions on all of the directories in the hierarchy to the ASP.NET process account (ASPNET by default) or to the impersonated account (if impersonation is turned on).