Thank you LucD for your tip. I am not an administrator but I asked one of the Domain Admins to run my script with his credentials and he got the same error. I will forward your answer so they can check. Unfortunately, as I mentioned, I'm in an installation where there is very little knowledge of automation, using PowerShell or any other tools.
Also, as I mentioned in my post, I've done some PowerShell/PowerCLI but not using VR/SRM and wondering if my approach is correct. There are very few script examples out there.
Again, thank you for your help.
JP