Install to two Operating systems?

Question

I have a C# project that I want to install on a dual booting PC (Windows 7 and Windows XP). Eg when I am on the Windows 7 OS I want to be able to install it on the other OS at the same time. I can see the partition that has Windows XP from the Windows 7 OS (and vica versa)so I should be able to install to the Program Files folder on it?