Encountered "Error:-1603 Fatal Error During Installation" when launching Creo Parametric Trial 8.0

Issue:
Error ID 1603 and claims that one of the components failed to install while launching Creo Parametric Trial.

Reason/Causes:

o The SYSTEM user account does not have Full Control permissions on the folder that you are trying to install the Windows Installer package to.
o This error appears due to security policy on the system or user not having privileges to install program

Solutions:

Solution 1:

o Login as Administrator on the system/computer.

o On your computer browse to #Download Folder or where the “PTC Creo Parametric 8.0.0.0 Trial CloudPlay.exe” was downloaded/Saved, check for “PTC Creo Parametric 8.0.0.0 Trial CloudPlay.exe”; and Run it as an Administrator.

Solution 2:

• Disable windows firewall temporarily and then install the application using administration privileges
  • Select #Start > Type in Control Panel

• Select  #System and Security (View by Category)
• Choose #Windows Firewall (View by Small Icons)
• Select #Turn Windows Firewall on or off on the left side of the screen
• Select the bubble next to #Turn off Windows Firewall (not recommended)
• Select OK to save the changes

• Right Mouse Button on “PTC Creo Parametric 8.0.0.0 Trial CloudPlay.exe” and Run as Administrator