Error: only system admin can specify w/ log option for raiserror command during installation or Instance Configuration
Permissions are inadequate for user running the installer
WORKAROUND:
Grant sysadmin access to service account on database server and to the user running the LiteSpeed.msi or Instance Configuration.
http://social.technet.microsoft.com/Forums/en-US/ppsmonitoringandanalytics/thread/acc55d8d-4f7c-4e57-8dfb-8ee5b5e3a8ba/
Resolved when granted sysadmin access to service account on database server.