AX 2012 AxUpdatePortal fails with error after about 6 minutes

When running the command [AxUpdatePortal -updateall -websiteurl “…” -verbose] on the EP server it sometimes happens that the execution fails with error:
The operation failed to execute. Error: Microsoft Dynamics AX could not locate the Web server…

In the Application event log you find a Warning with Event ID 1309 from source ASP.NET 4.0.30319.0:

3001
The request has been aborted.

5/20/2016 10:06:25 AM
5/20/2016 8:06:25 AM
32d0bf84574147888d67cba77fd69dd2
5
1
0
/LM/W3SVC/1454409847/ROOT/_layouts/EPDeploymentService-1-131082048102200427
Full
/_layouts/EPDeploymentService
C:\Program Files\Microsoft Dynamics AX\60\Setup\EPDeploymentService\
SERVERNAME
6180
w3wp.exe
AXBCProxy account
HttpException
Request timed out.
…

The AxUpdatePortal calls EPDeploymentService which is running in the same web application as EP and is doing the actual deployment. Depending on the performance of the servers (WEB, AOS, SQL) or network, the EPDeploymentService might time out.

To resolve this, increase the execution time out for EPdeploymentService.
Edit the web.config for EPdeploymentService which you find in C:\Program Files\Microsoft Dynamics AX\60\Setup\EPDeploymentService
At the bottom of the file just after the </runtime> tag, enter the following section:

<system.web>
<httpRuntime executionTimeout=”3600″ />
</system.web>

Save web.config and run IISRESET.