When you try to run SM/DCIM, the "The application failed to initialize properly (0xc0150002)" error message is displayed because the Visual C++ Redistributable Pkg do not have the correct version of some side-by-side assemblies (libraries) needed.
An error message is displayed and the product fails to run
The machine (or VM) does not have the correct version of the libraries.
Resolving the problem
You must download the correct package fromhttp://www.microsoft.com/downloads/en/details.aspx?FamilyID=200b2fd9-ae1a-4a14-984d-389c36f85647