dotNETInspector allows you to quickly and easily determine which versions and service packs of the .NET Framework are installed on a PC. This can be extremely handy for those who work regularly with portable .NET applications on computers that are not their own.
dotNETInspector can also act as a launcher by using command line parameters to specify the program to run should the specified version be found on the system, or optionally run something different should the version of the .NET Framework not be detected.
Reference: http://firedancer-software.com/software/dotnetinspector/