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Hi, for installation refer these tutorials... link1, link2, link3, link4
Assuming you followed the above instruction for installation of openerp already. Then
1) Create two separate folders for addons, e.g: mkdir /opt/openerp/v7 and mkdir /opt/openerp/v8
2) Create two separate log files, e.g: /var/log/v7.log and /var/log/v8.log
3) Create two separate configuration file (openerp-server.conf), e.g: /etc/v7.conf and /etc/v8.conf (Give the related addons path and log file respectively)
4) Change the port of the second instance (other than the default port 8069). Don't forget to change the port of the second instance !!!
Plz can u explain how to do it in windows 7
You can have also same port for all instances on same port, e.g. default http port 80 using WSGI
https://www.odoo.com/forum/help-1/question/how-to-install-openerp-8-using-mod-wsgi-44186
Marek Mosiewicz
http://consultantodoo.com