In the old days (Windows XP, 98, etc.), we put this feature in the right-click menu: right-click any file, then "send to" cmd.exe, and it will open cmd.exe in the folder where the file is.  This can still be done today.  

The hidden "SendTo" folder is in %APPDATA%\Microsoft\Windows\SendTo.  Add a shortcut to cmd.exe as shown in the picture below.  You can also specify whether to open cmd as an administrator or not.

Thanks for this useful info, Kevin.

Kevin, thanks for showing how to do this.