SpringBoard failed to launch application with error : -3 & 0

I've installed Xcode 5.0.2, Most of the Time, when I run my application in Simulator.
I'm getting Error, which is -

enter image description here

If any one could tell me, the Cause of Error and How it can be resolved .

Solution

Finally got answer,According to me I have found this-

Thanks for answering this question, but no one suggested me the Cause of Error.

It is known bug issue in Xcode 5.0.2

Cause of Error- Actually in Xcode 5.0.2, We've 4 Inch, 3.5 Inch and 64 Bit of simulator, So when we tried to change it, it cause the Error. For More details Refer HERE

I found this is the best solution to get rid the above error's (-3,0) .Thanks @user1547937 for suggesting for Reset and Content and settings.

1-Goto iOS Simulator 
2-Click Reset and Content and settings.
3-Clean Your Code (Shift+Cmd+K)
4-Build Your Code (Cmd+b)
5-Finally Run Your Code