If you mean install software onto a networked hard drive, then attempt to access/use that software from two or more computers, then I doubt it will work.
There is software that will install wholly onto a USB drive, but these are usually "Mobile" devices, designed specifically to be used on the go, eg MobileFirefox, etc.
Normal software, Office, and such, need to have system files and personal files installed on each system, and they are not interchangeable.
I would like to use my external hard drive to hold all of my software and network it to my other computers is this a possibility ? would it cause an issue with two computers running the same program at once any suggestions or feedback