When trying to install the OLSync (Outlook Live Management Agent) component you get the error
Forefront Identity Manager 2010 FP1 Sync Engine Configuration PowerShell Commandlets version (4.0.3555.2) must be installed.
The easiest way to solve this problem is by downloading the required components from Microsoft Support the direct link is – http://support.microsoft.com/kb/2272389.
You will note that you have to click on the well hidden link to get a hold of the hotfix to solve this problem but once you punch in your email address (make sure its a valid one because that is where Microsoft will send the hotfix) the download will be with you in just a few minutes.
The file that arrives is a zip archive, just extract the contents into a folder of your choice and run the file FIMSyncService_x64_KB2272389 and you will be good to go!