1. Run the program in XP compatibility mode. Right-click the program file or a shortcut to the program on the Start menu, and select Properties. Click the Compatibility tab. check Run this program in compatibility mode for and select one of the XP options from the pull-down menu. Then hope it works.
2. Upgrade to a more recent version of the XP-compatible program, or replace it with a competitor’s program.
3. Install Windows 7 on a separate partition so you can choose XP or Windows 7 when you boot up.
4. If you’re upgrading to Windows 7 professional or Ultimate, download and install the Windows Virtual pc and Windows XP mode. These applications will allow you, in effect, to run XP inside Windows 7.
There’s one other issue to keep in mind: If you’re moving from an older XP computer to a new Windows 7 one, you’re probably also moving from a 32-bit version of Windows to a 64-bit version. (XP and Windows 7 come in both flavors, but 64-bit is significantly more common now than it was when new PCs came with XP.) The 16-bit Windows programs from the early 1990s run just fine in 32-bit environments, but they don’t work in 64-bit Windows. Consequently, some of your older apps may not work on the new computer.
Source of Information : PC World December 2010