diff --git a/django/core/management/__init__.py b/django/core/management/__init__.py
index 32e744374a..a61b648674 100644
--- a/django/core/management/__init__.py
+++ b/django/core/management/__init__.py
@@ -97,8 +97,8 @@ def get_commands():
 
         # Find the installed apps
         try:
-            from django.conf import settings
-            apps = settings.INSTALLED_APPS
+            from django.core.apps import cache
+            apps = cache.installed_apps
         except (AttributeError, EnvironmentError, ImportError):
             apps = []
 
@@ -419,6 +419,12 @@ def setup_environ(settings_mod, original_settings_path=None):
     project_module = import_module(project_name)
     sys.path.pop()
 
+    # Initialize the appcache and look for errors
+    from django.core.apps import cache
+    for (app_name, error) in cache.get_app_errors().items():
+        sys.stderr.write("%s: %s" % (app_name, error))
+        sys.exit(1)
+
     return project_directory
 
 def execute_from_command_line(argv=None):