How to increase RAM of VM to suit 64bit Windows 8?

Ive created a second virtual machine in order to upgrade from Windows XP to Windows 8 (and still be able to use the programs on windows xp meanwhile)

I want to install the 64bit version of Windows 8, but my existing VM says it only has 1GB of RAM - though the mac its running on has 12GB.
Is this something to do with the original Parallels set up or will I have the option to increase this when installing windows 8?
Im running the latest version of Parallels.

 

1. Start Parallels Desktop
2. In the Parallels Control Center right click your second virtual machine you prepared for upgrading to Windows 8 -> Configure -> hardware -> CPU &Memory (assuming you run Parallels Desktop 10)
3. Drag the slider to increase the memory allocation. I would recommend to set it to 2-3 Gb of RAM and 2 CPUs.

 

Thanks, yes I found that command, but cannot seem to make changes - the slider for memory is fixed in position, the drop down choice for no of CPUs will not drop open!

 

Scratch that - just realised that the window had not shut down (was just suspended) hence why I couldnt adjust them.
Have increased it to 3GB (of my 12GB RAM total) and 2 CPUs.

 

JFYI http://kb.parallels.com/en/112091

 

When I try to adjust that slider bar in either direction I get a message that I don't have permission to make that change.