Managed Server failed to start with Reason: [Management:141266]Parsing Failure in config.xml

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Applies To:
WLS - 10.3.6.0.11
OSB - 11.1.1.7.4
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Problem:
Unable to start managed server where as admin server came up fine with no issues.

Error:
<Apr 19, 2016 3:08:48 AM CDT> <Critical> <WebLogicServer> <BEA-000362> <Server failed. Reason: [Management:141266]Parsing Failure in config.xml: failed to find method MethodName{methodName='setCacheInAppDirectory', paramTypes=[boolean]} on class weblogic.management.configuration.AppDeploymentMBeanImpl>
<Apr 19, 2016 3:08:48 AM CDT> <Notice> <WebLogicServer> <BEA-000365> <Server state changed to FAILED>
<Apr 19, 2016 3:08:48 AM CDT> <Error> <WebLogicServer> <BEA-000383> <A critical service failed. The server will shut itself down>
<Apr 19, 2016 3:08:48 AM CDT> <Notice> <WebLogicServer> <BEA-000365> <Server state changed to FORCE_SHUTTING_DOWN>
<Apr 19, 2016 3:08:58 AM> <INFO> <poc_osb_dev> <poc_osb_dev_ms01> <Server failed during startup so will not be restarted>
Apr 19, 2016 3:08:58 AM weblogic.nodemanager.server.AbstractServerManager log
INFO: Server failed during startup so will not be restarted

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Cause:
WLS patches applied to admin host and managed server host were different.

Admin host:
WebLogic Server Temporary Patch for BUG20448343 Fri Feb 06 12:39:35 IST 2015 WebLogic Server 10.3.6.0.11 PSU Patch for BUG20181997 TUE NOV 12 15:54:42 IST 2015 WebLogic Server 10.3.6.0 Tue Nov 15 08:52:36 PST 2011 1441050

Managed server host:
WebLogic Server Temporary Patch for BUG14747231 Wed Dec 19 00:41:27 MST 2012 WebLogic Server Temporary Patch for BUG14030073 Tue Jul 31 11:44:25 IST 2012 WebLogic Server Temporary Patch for BUG13961904 Sat Oct 13 07:42:54 CDT 2012  WebLogic Server Temporary Patch for 13573621 Wed Jan 18 18:53:18 IST 2012  WebLogic Server Temporary Patch for BUG14322089 Wed Jul 25 16:00:29 IST 2012  WebLogic Server 10.3.6.0  Tue Nov 15 08:52:36 PST 2011 1441050
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Resolution:
We need to apply same WLS patches to managed server host as like admin server and restart the server.
This should resolve your issue.