P2V fails with Error 2910 (0x80070005) Access Denied

P2V fails with Error 2910 (0x80070005) Access Denied

from TechNet Blogs by mbriggs

Symptom

When using Microsoft System Center Virtual Machine Manager 2008 to perform a Physical-to-Virtual conversion (P2V), the following error message appears during the Scan System phase.
Error (2910)
VMM does not have appropriate permissions