Under Windows 7 if you want to run an application under administrator privileges, then Windows will prompt for UAC which is needed for elevated rights. Elevated Shortcut (Translated Page) is a simple freeware tool which allows you to run applications with administrator privileges without the UAC prompt each time you run it. This application will be useful if you want to run a specific programs always as administrator without having to see the UAC.
Once you create the shortcut the application will always run in elevated rights. You can modify or delete any of the shortcuts using the application interface. The application also has Windows Explorer context menu integration, so you can right click any exe file and then select to run in elevated mode.