1. Go to Microsoft's support site (see 'Resources'). Download the Windows Installer Cleanup Utility. Follow the prompts to run the installation program as you normally would any software.
2. Look at the list of components that you can remove completely from your system upon running the Windows Installer Cleanup Utility. Find the one that corresponds to whatever software that gave you Error 1316 originally.

3. Highlight the correct program and hit the remove button. You will be warned that this will make permanent changes to your system. Click the 'OK' button, and the utility will clean the partial or corrupted install off of your system.
4. Install the program again. Now that the leftover remnants of the previous installation have been dealt with, you should be able to complete the installation process with no issues.