Parameter & does not exist for method & of object type &

What causes this issue?

Parameter &v1& does not exist for method &v2% for object type &v3&.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Select a suitable parameter.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.