Upgrade MSVC project from windows phone 8.0 to 8.1

Question

Microsoft docs state that one should be able to upgrade existing Windows Phone 8.0 project to Windows Phone 8.1:

However, I cannot see that option in my popup menu:

I have installed MSVC 2013 Update 2.

Installed components are:

What have I missed?

Answer 1

Check this out, it might be of help: http://www.microsoft.com/en-us/download/details.aspx?id=42319

Answer 2

You need to be running on Windows 8.1 in order to develop apps for Windows Phone 8.1.

Note To retarget your project, you must be running Windows 8.1. After you retarget your project, you won't be able to open that project on a computer that runs Windows 8.

(http://msdn.microsoft.com/en-us/library/windows/apps/dn263114.aspx)

and...

Important
To create an app, you must use Visual Studio 2013 on a computer running Windows 8.1.
You can't create an app by using Windows 7.

(http://msdn.microsoft.com/en-GB/library/windows/apps/br211384.aspx)