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Log entry for EventID 5586:
Unknown SQL Exception 297 occurred. Additional error information from SQL Server is included below.

The user does not have permission to perform this action.

Log entry for EventID 2159:
Event 5586 (SharePoint Foundation) of severity 'Error' occurred xx more time(s) and was suppressed in the event log

What’s going on? This is occurring because your SQL Server has not been configured to use named pipes.

Fix:

1. Open the SQL Server Configuration Manager (assuming you are using SQL 2008)
2. Browse down to SQL Server Network Configuration – Protocols for <namedserverinstance>
3. Right-click “Named Pipes” in the right pane and choose Enable
4. You may need to restart the server for changes to take effect

> EDIT < Christopher Hatton adds (from the comments):

Granting the farm database access account “VIEW SERVER STATE” under the SQL Server properties will also resolve this issue.