I, like many others, ran into trouble while trying to start the game. Simply nothing happened and I was considering refunding the game until I stumbled upon a discussion on the original Ravenhearst game started by the user distractedme

Starting the game (as written by distractedme):
Game won't launch solution from Wisdom-Luke

- Open the Windows start menu.
- Select Settings.
- In the settings Search menu, type "System" and then select System.
In the next window select Advanced System Settings.
- Select the Advanced tab.
- Under the Performance section, select Settings.
- In the final window, select Data Execution Settings and make sure the option for Turn on DEP for essential Windows programs and services only is checked.
- If this option is not checked, please check it and then hit OK.
- Restart the computer.

P.S: also worked for other old bigfish games

After doing this a security key message popped up and I had to tackle the next problem. This time user Jeseja had the solution on this game's discussion page.

Getting the security key (as written by Jesea):
There is a way to fix this yourself. It gets a bit technical but hopefully this will help.

1) Right click on the game in you library and select [PROPERTIES]
2) Select the tab [LOCAL FILES] and click on [BROWSE LOCAL FILES...]
3) Open the file [install.vdf] in notepad or another text editor.
4) In the file you will find a line that starts with ["command 1"]
5) Find the following values in this line:

Username = #PROPERTY_USERID#[Your username]#
Key = #PROPERTY_GAMELICENSE#[Your Game Key]"

6) Enter the values in the pop-up when you start the game.
7) Enjoy the game.