I've been working with FCP for years, and just got this message for the first time when saving. You're in the middle of a project and you can't save, can't save as, or anything. From the google results for this problem, it seems to be very rare, and very random.
Solution: Create a new project and copy and paste everything from the bad project into the new one, then save that one. Not ideal, but it works. Alternatively, revert to your last saved or autosaved version.
Side note: If you haven't lost much work, just close the project and reopen it. You'll be able to save again.
Don't know what causes this and I hope I never see it again!
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