Hyper-V Access Denied

Fri May 15 2015 • access-permissions component-services remote-access

After reinstalling windows (now running 8.1) on my main machine and connecting to a Hyper-V server running on my server machine (Hosting Win Server 2012, etc) I encountered a problem. For some reason it said "Access Denied. Unable to establish communication between [...]". Googling around resulted in a find of this blog post by Philip Elder. These are the steps to solve the issue:

Go to Component Services (%windir% -> search for "dcomcnfg" and launch dcomcnfg.exe)
Go to Console Root -> Component Services -> Computers -> My Computer
Right click on My Computer and go to COM Security tab
Click on "Edit Limits..." in Access Permissions area
Select ANONYMOUS LOGON group and enable Remote Access permission
Launch Hyper-V Manager and select required VM. It should connect without any issues

The information here is based on Philip Elder's article. I recreated the set of steps in this blog post to make it easier for me to find this information when needed.