This is absolutely do-able, but there are caveats.
Overall:
• Partiton the boot disk, give yourself a new partition - you won't lose any data
• Do a clean install to the new partition
• Enjoy
OK, that's over-simplication. Doing a clean install to the new partition can involve at least a little work, but I've done it a few times now.
The caveats come in when you realize you have a lot of duplicated apps, and of course you've doubled your disk usage where the OS is concerned, which may or may not be an issue.
You'll also have two /Users directories, two home directories and so on.
There are also apps which will require re-installation, Office was one of them. Oddly enough, somehow, some way Office picked up on the old partition's preferences, and insisted on saving files to the old desktop.
Depending on how many files you have and where they are, you might opt to copy all of them to the new partition and then at some point nuke the old partition.
Again, not technically impossible or even hard, but there are things to watch out for.