How to create a drive partition on Windows 7 Home Premium?

Want to try some programs on a partitioned drive? Dual boot Windows 7, Windows 8, Linux etc.

If you need measured steps to do it with screen shots, here it is:

Here I am trying to release some space from my C:\drive

To get to see this you need to go Start | Computer and make a right click and choose Manage from the drop-down list. In the Computer Management Screen choose Disk Management.

Right click the highlighted drive (C:) and pick up shrink Volume..

You get to the Shrink C: screen 

Enter the amount you want to shrink. This was my choice.

Hit Shrink button.

Now you are sizzling. You have 292.97 GB free.

Right click this new released space and click New Simple Volume...

New Simple Volume Wizard shows up.

Read the stuff on it. Hit Next. You need to specify the size of this volume (how many gigabits).

I chose about 40 GB (twice the minimum requirement).

Hit Next. Now in this screen you can choose to create the partitioned drive.

I assumed F: drive. Hit Next to get to the Format drive screen.

I gave Windows 8 as Volume label. Hit Next.

Now you have a F:\ drive with about 40GB. Disk Manager screen gets updated as shown.

You are cooking now. The drive appears in the Windows Explorer as shown.