Microsoft released the latest Cumulative Updates (CU) for Project and Project Server 2010 and 2007. There was a problem found in both the 2007 and 2010 Server Rollup Packages which required a fix and for the patches to be rebuilt. The current guidance is that we should see it released during the week of 12/27/2010.
Project and Project Server 2010: This include a number of fixes, so Microsoft strongly recommends that you test this in a test environment based on your production environment before putting this fix live in production.
The article below provides information on how to deploy the Project Server Cumulative Update: