Microsoft: Unable to Upgrade System Center 2012 Configuration Manager ( SCCM 2012 ) SP2 to R2 SP1 Due to Permissions Issue

<< Symptom >>
Receive a popup stating "You must have local Administrator permissions to install this software." when running the splash.hta or ./SMSSETUP/BIN/X64/Configmgr2012R2SP1.msi.

<< Solution >>
Right-click on the command prompt and Run As Administrator. Then, execute the splash.hta file with the command prompt.