You are installing to the default right? :
C:\Program Files (x86)\EA GAMES\Battlefield 2
The most common causes of CTD are:
Failure to uninstall any previously installed versions of PR.
This can easily be done via the Windows Control Panel
'Add and Remove Programs' icon, under "Project Reality 0.x".*,
then delete the PR folder to remove any leftover files.
Don't forget to delete the desktop short as well.
Reboot, then start BF2 at least once before installing PR
PRv.909 uses 2 installers. You must install both 'Part 1' and 'Part 2'.
It is recommended that you restart your system after you install/uninstall programs
to ensure all installed components, files and registry entries are correctly installed or removed.
BF2 not updated to v 1.41 before patching with v1.5
FULL update 1.41
Final v1.5
Delete the original BF2 folder from your documents folder.
Some other things you can try before you uninstall/reinstall.
Backup your BF2 folder that's inside your documents folder. Once you have a backup delete the original from your documents folder.
Try starting PR from your new PR shortcut
(a new default folder is created)
link to your online account.
If all goes well (CTD gone) all you have to do to get your custom settings back is copy your 'control' file from your backup to the new profile folder.
path:
C:\Users\your user name here\Documents\Battlefield 2\Profiles\0002
note: you may not have a 0002 folder so use 0001