ISRS Gives a Side by Side Configuration Error

I am getting the following error when I try running ISRS, The application has failed to start because its side-by-side configuration is incorrect. please see the application event log or use the command-line sxstrace.exe tool for more detail.. What can I do to fix this?

Question

What to do when ISRS gives a side by side error?

Overview

This happens when a computer doesn't have Visual Studio C++ 2005 x86 installed.

1. Navigate to one of the following locations.
   1. MavDISK (on campus):
      1. Press the windows key and the R together on the keyboard to get the run box.
      2. Enter \\mavdisk\software\Staff\Microsoft\Visual C++\Microsoft Visual C++ 2005 SP1 - x86-x64\Source
      3. Double click on vcredist_x86.exe.
      4. Follow the prompts on the installer.
   2. Download from the web:
      1. https://www.microsoft.com/en-us/download/details.aspx?id=3387
      2. Run the installer and follow the prompts.
2. Run ISRS.

Note:  You will need administrator rights to install the software.