SSRS Report Builder "Application cannot be started, contact application vendor."

When trying to launch Report Builder you receive the error “Application cannot be started, contact application vendor.”

I did two things that seemed to of helpled.

1. Open SSMS and connect Server type “Reporting Services”, Server name. Right Click the Server Name in Object Explorer and pick Properties. Under Advanced setting in the Reports section set the ReportBuilderLaunchURL to https://serverurl/ReportServer/Report/BuilderReportBuilder_3_0_0_0.appli….

2. Create a Web.config file in the C:Program FilesMicrosoft SQL ServerMSRS11.instancenameReporting ServicesReportServerReportBuilder folder containing the following

<?xml version=”1.0″ encoding=”utf-8″?>
<compilation tempDirectory=”C:Program FilesMicrosoft SQL ServerMSRS11.instancenameReporting ServicesRSTempFiles”/>