BSOD 0x116 & 0x117 causes:
 
#1 Bad video driver or corrupt video driver.
#2 Defective video card.
#3 Insufficient power to GPU, defective PSU.
 
 Solutions to the above problems:
 
#1 Preform a clean installation of the latest video drivers...

1. Uninstall Precision X/Afterburner if installed, make sure to select "no" to saving profiles if asked.  Reboot the PC now if you had to uninstall PX or Afterburner.
2. Download & save graphics driver 347.88 to your desktop. Run the graphics installer located on your desktop once the download is complete. 
3. Select custom advanced install, under custom installation options uncheck all options except the physx system software, if you have a 3D capable monitor and would like to use 3D at some point please select both 3D options, check mark perform clean install, then click next to install the driver, reboot when asked.

 Option 2: Test all older video drivers to see if they produce the same BSOD.
 
#2 Reduce video card clock speeds using msi afterburner to see if it helps get rid of BSOD. I recommend reducing the clocks by 105 on both the core & memory. Leave afterburner open while testing.
Option 2: Test the video card in another computer to see if you can replicate the BSOD.
Option 3: Use a known working video card in your system to see if you can replicate the BSOD.
Option 4: Take the defective video card to a local computer repair shop to have it tested if you don't have another machine to test with.
Option 5: RMA the card.
 
#3 Check and make sure the PSU PCI-E power cables are tightly secure to the GPU & PSU.
Option 2: Check and make sure the PSU is putting out the correct voltage to the GPU while under load. PSU Testing: http://forums.extremeoverclocking.com/t137886.html (You will need a Digital Multimeter for testing your PSU. You want all three rails to be within ATX spec, ATX Specification: 12V: 11.40 to 12.60,  5V: 4.75 to 5.25,  3V: 3.135 to 3.465. If any of your rails hit the minimum spec I would replace the PSU with a new one.)   
HOW TO: Properly load your system when checking PSU voltages.    
#1 Download & Install Prime95   
#2 Download & Install Unigine Heaven 4.0.   
#3 Open both Prime95 & Heaven 4.0 (Run Small FFT test for Prime95. Run Heaven 4.0 @ 1280x1024 windowed mode. Run both of these tests at the same time while checking voltages.)
Option 3: RMA the PSU.
 
 
Other things to try:
 
#2 Run GPU fans at maximum speed while playing your games.

1. Download and install MSI Afterburner.
2. Launch afterburner and set the fan speed (%) slider all the way to max.
3. Click apply to bring changes you've made into effect. Fan should get louder at this point.
4. Test games. Leave afterburner open while testing.

 
#2 Modify TDR timeout period via windows registry.

• Exit all Windows based programs.
• Press Windows Key+R, type regedit in the Search box, and hit enter. If you are prompted for an administrator password or confirmation, type the password or provide confirmation.

Browse to and then click the following registry subkey: 

• HKEY_LOCAL_MACHINE\SYSTEM\ControlSet002\Control\GraphicsDrivers
• HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\GraphicsDrivers 

• On the Edit menu, click New, and then select the following registry value from the drop-down menu specific to your version of Windows (32 bit, or 64 bit): 
  
  For 32 bit Windows:
  
  1. Select DWORD (32-bit) value.
  2. Type TdrDelay as the Name and click Enter.
  3. Double-click TdrDelay and input "A" without the quotes for the Value data and click OK.
  
  For 64 bit Windows:

1. Select QWORD (64-bit) value.
2. Type TdrDelay as the Name and click Enter.
3. Double-click TdrDelay and input "A" without the quotes for the Value data and click OK.

• Close the registry editor and then restart your computer for the changes to take affect