Compilation from source in linux

Some newer distributions are adopting this method. Rather than compiling a software package, the distributor makes the source available, perhaps with some modifications, along with a "recipe" for configuring it and installing it on an end-user's computer.

Compilation from source with checkinstall

you can combine the best of both worlds (the easy management of binary packages with the flexibility of compilation from source) by using the program checkinstall. It generates a RPM , DEB or TGZ binary package from the source compilation, and then installs it. You can manage the resulting package as any other package in your system.

Compilation from Source by Hand

Typically, you will invoke
o configure
o make
o make install