When you install 2.8, instead of using the default directory of "UFT" select one, such as "UFT28" to install the program or you can install UFT 3.0 in the directory "UFT3" instead of updating a previous version.
To access UFT 2.8, go to "START - PROGRAMS - UFT -" and to access UFT 3.0, go to "START - PROGRAMS - UFT3 -" as these are the default program folders.
When you open the project for the first time you must select the folder where the project is located so the program will know where to look. The project will normally be located at C:UFTPROJECTS*.pro" where the "*" is the name you have given the project.
You can access the project from either programs, but only one at a time.