"Failed" message on Update #6002

I have updated the Password policy module from 6.x-1.0-alpha3 to 6.x-1.0-beta1. On running update.php I get

The following queries were executed
password_policy module
Update #6001

    * CREATE TABLE {password_policy_force_change} ( `uid` INT NOT NULL, `force_change` INT DEFAULT 0, INDEX uid (uid) ) /*!40100 DEFAULT CHARACTER SET UTF8 */
    * INSERT INTO {password_policy_force_change} (uid) SELECT DISTINCT uid FROM {users} WHERE uid > 0

Update #6002

    * ALTER TABLE {password_policy} CHANGE `policy` `policy` VARCHAR(1024) NOT NULL DEFAULT ''
    * Failed: 

Note the last line of the output - "Failed".