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'Object reference error' when accessing the Management Console from K2 Site Settings in SharePoint 2010

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This article was created in response to a support issue logged with K2. The content may include typographical errors and may be revised at any time without notice. This article is not considered official documentation for K2 software and is provided "as is" with no warranties.
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Objective

This error appears when accessing the Management Console from K2 Site Settings in SharePoint 2010:

Before You Begin

This issue can be caused by the user not having permissions in the Environment Library Template:

In this case only the [Denallix]\Administrator will be able to access the Management Console.

How-to Steps

To resolve this, grant the user permissions to the environment library, this will allow the user to load the Management Console.