This may or may not be an option offered by the installation program,
especially for older programs. Some may offer a user option. Those that
don't may install to All Users or may install to the current user by
default. In the latter case it may just mean that no shortcuts are placed
on other users menus but they can run the program by directly launching the
..exe, or the program may actually enforce user rights.
If the installation has no options, all you can really do is manage the
shortcuts and menus for the different users as to whether to show the
program or not. If the concern is a security issue an administrator could
limit access to the program directory for limited users through NTFS
permissions.
Sorry there's not an easier answer. Over time more and more installations
will probably better support multi-user Windows versions.