Have a look on KB 20012705 on BMC Support Site. It states that Error 5005 may happen during the simulate phase of a BLPackage deploy job
and the solution is to Upgrade to 7.4.1 SP1 or 7.4.1 hotfix 649.
Hope that Helps !!
thanks for the reply, checked it out however im running version 7.6.0 any other ideas?