This problem surfaced while installing SQL Server 2104 Report Builder on a Windows 10 (x64) Pro machine which has a SQL Server 2014 (x64) Developer Edition installed and a properly configured Report Server.
The Report Builder software was downloaded from this Microsoft Site:
https://www.microsoft.com/en-us/download/details.aspx?id=42301
ReportBuilder_01
Double clicking the downloaded MSI file above started the installation. The program looks for a target report server and it was provided as shown:
ReportBuilder_02
The Report Server and the Report Manager both do not have any problem. However this ends up with an unsuccesful installation with this message:
ReportBuilder_03
The work around for this is
to not provide a target report server and ccontinue with the installation. The installation succeeds this time. After a little while an gets added to the All Icons group as shown.
ReportBuilder_04