Hello Manish,

First, you will want to unzip or uncompress the file in your home directory or if you compile programs often, create a folder in your home directory.

If downloaded a file and it has extension .tar.gz or .tgz use the following tar command:
If you downloaded a file and it has the extension .tar.bz, use the following tar command:
If you downloaded a file and it has just a .gz extension use the gunzip command:
If you downloaded a file and it has an extension of .bz use the bunzip2 command:
Now go to extracted the source code directory using cd command:
Now build software binary
Finally, install software binary

If the make step does not complete successfully then it means that either the Makefile was created improperly or there is a syntax error in the source which is causing it to fail compiling.

If you are RHN subscriber use up2date command to install all software. http://www.cyberciti.biz/faq/howto-use-up2date-command/