This may be an old fashioned way to do it, but I set aside a command by using ^A (or Home) and the entering : and space:

$ : Command that has an error

I can then cd to the right directory, or fix whatever other problem I had, then use up-arrow to get back to the command, remove the : and space and run it.

The : (no op) command is fairly obscure and some of the other suggestions here are probably better.