HI,
if you use MSVC and not mingw you must replace the line C: \ Qt \ Qt5.4.0 \ Tools \ mingw482_32 \ bin \ mingw32-make.exe by
nmake (cf Qt documentation)
and I believe it's not recommended to use Qt 5.4.0 and MSVC,it's better tou use Qt 5.4.1 (binary compatiblity problems with 5.4.0 and MSVC)