DPM - ID 104 Details: Element not found (0x80070490)

Issue:
You get the following error when try to protect Hyper-V VMs and SQL instances on a cluster:

An unexpected error occurred during job execution. (ID 104 Details: Element not found (0x80070490))

Solution/Workaround:
Install the following hotfix on all nodes:

http://support.microsoft.com/kb/975921

Posted in: 0x80070490,An unexpected error occurred during job execution,DPM,DPM 2007,ID 104