Is there a way to change the .PTF file location for an existing Nios II IDE project?

In order to specify a new .ptf location within an existing Nios^® II IDE project you will need to follow these steps:

1.  Delete the "syslib" project within the IDE. Make sure you choose "Also delete contents under '<directory path>' ".
2. You will then need to recreate a new "syslib" to target the new location of the .ptf. Click on File menu-> New ->Nios II System Library.
3. Make sure you rename the syslib project, preferably with a "_syslib" at the end to decrease any confusion.
4. Choose the new location of the .ptf file by clicking on the Browse button.
5. You can also specify the project location by clicking on Specify Location checkbox.

This is a common example when sharing a Nios II IDE project between multiple engineers with different directory structures.