Can anyone help me with a problem, that is driving me MAD!!

Every 60 seconds or so, I get a message box that reads as follows;

"Program Error - Winmgmt.exe has generated errors and will be closed by windows. You will need to restart the program. An error log is being created."

If I click the 'OK' button, the message is removed, only to reappear 60 seconds later.

I have tried;

1) Detecting the problem through my utility software "Fix-it Utilities 5" (VCom). No joy. I have tried downloading various other utility software off the internet, all of which claim to be the greatest thing since sliced bread, yet still the problem persists.

2) I have looked at the Microsoft website and followed their advice to try and restart the program, yet it is still there.

Can you tell me, in simple terms;

1) What Winmgmt.exe is and what it does and how important is it? (looking on the file properties it says Winmgmt on my computer was created on 08/01/2005).
2) When the error message says 'restart' does that mean Winmgmt or Windows itself? If Winmgmt how do I do it, bearing in mind I have already tried to do this from the advice from Microsoft.
3) Where can I find the alleged error log?

This problem concerns me as it is very similar to a scenario that I had last year (remember tss.exe) that eventually wiped out the registry/start-up software. I want to fix it and soon.

PS The error has appeared at least 6 times as I have composed this message.

May I add that I tried downloading 'Bug Doctor', billed as 'EXE Errors Fixed Now Free'. Yes, you can scan for free but for it to 'clean' your PC, you require an 'unlock' code that costs approximately $50.00 or the UK equivalent. On top of that, it didn't work and my Winmgmt.exe problem persists.