Issue:

 When you launch a SharePoint 2010 Management Shell you receive one or both of the following errors:

 “microsoft sharepoint is not supported with version 4.0.30319 of the microsoft .net runtime”

“the local farm is not accessible cmdlets with feature dependency are not registered”

 Diagnostics:

 At the command prompt run the following commands:

PS C:\ > $ver=$host | select version

PS C:\ > $ver.Version

 

Major  Minor  Build  Revision

-----  -----  -----  --------

3     0      -1     -1

 If the version indicated is not “2” this causes the shell console to execute in the context of the unsupported runtime as indicated in the error above.

 Workaround:

 First try to import system modules and as indicated in the following screen capture:

  
 
 
 
 
If the above step does not resolve the issue; navigate to the PowerShell shortcut properties then add the “-version 2” operator to the string in the Target Field:

 

Example:

  • C:\Windows\System32\WindowsPowerShell\v1.0\PowerShell.exe –version 2 -NoExit   " & ' C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\14\CONFIG\POWERSHELL\Registration\\sharepoint.ps1 ' "

 

Many Thanks and Kudos to Mr. Darrin Dyson of Venable LLP. for his collaborative efforts on this post.