HOW TO INSTALL MOST SOFTWARE ON YOUR LINUX BOX 2
From Zedomax Wiki
Now, if you want to use the easy way out instead of all the above tarball crap, you can always see if you can install the software using yum or rpm.
Examples:
rpm -qa lame
where lame is the name of the software.
You can also do:
yum install lame
or if you can't find the package still:
yum install lame*
try the 3 ways and if you can't find it, you can always get the source tarball files and install it manually. :)