3. When the error is with a shortcut, the cause is that the object that is referenced by the shortcut has been removed. Normally, a user can't remove an object that is referenced by a shortcut due to the dependency. Some product installs (e.g. RTSM) have been known to remove objects (in the case of RTMS, a folder) that are referenced by shortcuts.
3. This was resolved in one instance by updating the Operating System and rebooting the server.
4. In the case of the shortcut, simply delete the shortcut. Some investigation work will be needed to determine which object was being referenced by the shortcut so that a new shortcut can be created.
A diagnostic tool has been created to assist with troubleshooting this error message. See KB 24780
NS 6.0.6074, NS Rollup R1 (KB 22690), various other solutions