The below image is Management console in SCDPM 2010. There are protection groups to configure backup policy.
Figure: Protection menu of the management console
I found something new in console, that was Initial backup. I hadn't seen it in my testing server. So I searched what it was on the web.
Initial Store is a Hyper-V security component that stores information relating to role based access permissions for the VMs on that server. It is located at C:\ProgramData\Microsoft\Windows\Hyper-V\InitialStore.xml.
You do need to backup the Initial Store component but you don't need to back it up along with a VM. The same thing with restore. Restore the component when the InitialStore.xml file is missing, corrupt etc. This component is independent of the VMs.
The "Initial Store" is related to Azman. The initial store contains the AzMan role-base security specifications. Restore this component when you want to restore the AzMan security settings that you backed up.
If you want to back up an online virtual machine (running VM) by using VSS, you should back up all of the volumes that contain the files for the virtual machine, including the InitialStore.xml file (in %systemdrive%\ProgramData\Microsoft\Windows\Hyper-V, by default) and all volume(s) contains the VHD(s) and configuration XML files.
This would be the point of the post.
So, Do we have to back up initial store?
Figure: Adding initial store to protect
As for the initial store you don't have to protect it necessarily unless you're using authorization manager to delegate and define specific permissions and control for your virtual machines to users.
And it also is related to Hyper-V Authorization Manager. Refer to