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Warning 1015 Failed to connect to server

Title: Warning 1015 Failed to connect to server

Product Version: SharePoint 2010

Event ID: 1015 

Event Description:
=============

Log Name:      Application
Source:        MsiInstaller
Date:          2/27/2012 12:52:38 AM
Event ID:      1015

Task Category: None
Level:         Warning
Keywords:      Classic
User:          PNG\spfarm
Computer:      SERVER.redblue.local
Description:
Failed to connect to server. Error: 0x80070005

Solution:
======
This warning is occurring randomly and occurs every couple of hours.
Along with this warning i found another warning event 1001.
The SharePoint version is 14.0.6114.5001 that is Dec 2011 CU update.
The temporary solution worked for me is to add my SharePoint Farm (PNG\spfarm) a/c to SharePoint servers administrator group.

MS has released one KB Article (mentioned below) for this, resolution by MS is as follow.

Grant the Network Service account read access to the %programfiles%\Microsoft Office Servers\14.0 folder

Keyword: warning 1015, warning 1015 msiInstaller, warning 1015 sharepoint

Reference: http://support.microsoft.com/kb/2473430

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I am Senior Server Expert and Professional Blogger.