Thanks for your reply, actually its not exactly about VS, I have admin rights on my local computer and can run WCF project, but in client's server machine, we have one account, under that account WCF project/service is running in production.
From next month, they are planning to remove the admin previleges to our account, then WCF project/service might not run in that case.
As part of this, as a developer I just tried to replicate this scenario and got the above exception "The service endpoint failed..." in my local.
We need to find alternate solution, where WCF project/service should continue running under Non-Admin account as well. Hope you understand my concern now. Thanks.