You can open a new Command Prompt window directly to a folder location by right-clicking the folder in Windows while holding the Shift key and then selecting Open Command Window Here. But this opens it to user-level privileges. However, you can add a shortcut to the right-click context menu that opens it with administrator privileges.
Open Notepad, insert the following text, and save as AddToOpenAsAdmin.reg:
Windows Registry Editor Version 5.00
@="Open Command Window Here as Administrator"
@="cmd.exe /s /k pushd \"%V\""
Then to apply, execute the AddToOpenAsAdmin.reg file. Now you’ll see an admin option when right-clicking a folder while holding down Shift.