The Basic Setup Tasks are located in the Getting Started section of the console. These should be the first steps completed after installing the console.
Select target domains:
The Privilege Manager console is initially configured to allow you to manage the privilege elevation settings for the domain to which the local computer belongs. In addition, the console also allows you to manage other domains in your forest.
Create GPO with Default Rules:
This will launch a wizard that will walk you through the creation of rules by allowing you to choose from a list of useful default rules that you can add to a new or existing GPO. This step is optional as rules can be created manually in the Group Policy Settings section. However this is a good opportunity to get a few rules setup quickly.
Configure a server (Pro feature only)
This may be a bit confusing as you have already installed the Privilege Manager Console.