I have found this same error and the resolution to fix it was to do a full, clean uninstall of UFT, then reinstall UFT. Please be sure to do the following with a user that has admin rights (see mentioned permissions document).
Do a clean uninstall using the instructions in [KM00319750].
Once the uninstall is complete, please reboot the machine.
To reinstall UFT:
1. Ensure installation files are LOCAL to the machine, NOT on a network shared location.
2. Ensure user doing the install has Admin rights (please see [KM183747] for proper install permissions)
3. Disable any anti-virus during the install
4. Turn off UAC during the install
5. After install completes, launch UFT AS ADMIN (right click and choose Run As Administrator) and connect to ALM (ADMIN rights are REQUIRED at this step). Once this is complete, close UFT.
6. Now, Navigate to: `http://:8080/qcbin` then click the Add ins/Tools page link.
7. To register the HP ALM Client, click the HP ALM Client Registration link from the add ins/tools page, then click ''Register HP ALM Client'' at the bottom of the page.