1. Open any Folder/directory (already existing on the machine) by couble clicking or press "Windows+E" keys simultaneously.
2. Go to Tools->Folder Options. When you click Folder Options, new window will pop-up.
3. Select File Types.
4. Go to (NONE) Folder found under"Registered file types:".
5. Select "(NONE) Folder"
6. Now press "Advanced" tab.
6. Press New tab.
Action:
Open Command Prompt here
Application used to perform action:
path_to_cmd.exe (e.g. C:\WINDOWS\system32\cmd.exe)
7. Press OK->OK->Close tabs.
After the completion of seven steps above if you click any directory you can see "Open Command Prompt" in the menu which is marked with Red rectangla in the diagram.
Now you can right click on any Folder/Directory on any Windows OS (I tested on Windows Server 2003 with SP2 and Windows XP with SP2) and open Command Prompt from that Directory path.
