I'm getting an warning as 'SpringBoard failed to launch application with error: -3'. This happens when trying to run application in Xcode 5.
Finally...found solution!
Solution 1 : Just quit Simulator and clean Xcode. The fresh build will not show this Alert again. The possible reason for this might be switching between 64-bit simulator and 32-bit simulator.
Solution 2 : If the problem still persists then delete the App from Simulator and re-run the code. This will work since the app contents are freshly loaded.
Springboard (also known as Home Screen) is the standard application that manages the iOS home screen.
Also, these may be bug of Xcode 5.0.2. I haven't encountered any such error in Xcode 5.1 (Beta) version.