If you are installing SCOM for the first time on a Windows 2012 Server here is the Powershell to install all of the IIS prerequisites for the Web console
Before running this script make sure you have a GPO in place for the sxs install files
During my upgrade to SCOM 2012 SP1 I decided to not install the web console while troubleshooting other errors with the Management Server. When I reinstalled the web console I was getting a 401 unauthorized: Access is denied due to invalid credentials error.
The solution to fix this on a new install of the web console was to change the authentication provider order.
Open IIS, highlight the operationsmanger application open authentication