diff --git a/CMakeLists.txt b/CMakeLists.txt
index 05deda6be1..0e74ac100a 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -1,8 +1,17 @@
 # Copyright (c) 2019-2023 Advanced Micro Devices, Inc. All rights reserved.
 # Modifications Copyright (c) Microsoft Corporation. Licensed under the MIT License.
 
+# CMake version minimum requirements
+#==================================================================================================
 cmake_minimum_required(VERSION 3.5)
 
+# CMake Toolchain file to define compilers and path to ROCm
+#==================================================================================================
+if (NOT CMAKE_TOOLCHAIN_FILE)
+  set(CMAKE_TOOLCHAIN_FILE "${CMAKE_CURRENT_SOURCE_DIR}/toolchain-linux.cmake")
+  message(STATUS "CMAKE_TOOLCHAIN_FILE: ${CMAKE_TOOLCHAIN_FILE}")
+endif()
+
 # RCCL project
 #==================================================================================================
 project(rccl CXX)
diff --git a/README.md b/README.md
index 9a3a81fe7d..3e0463748e 100644
--- a/README.md
+++ b/README.md
@@ -18,11 +18,18 @@ The collective operations are implemented using ring and tree algorithms and hav
 RCCL directly depends on HIP runtime plus the HIP-Clang compiler, which are part of the ROCm software stack.
 For ROCm installation instructions, see https://github.com/ROCm/ROCm.
 
-The root of this repository has a helper script 'install.sh' to build and install RCCL on Ubuntu with a single command.  It does not take a lot of options and hard-codes configuration that can be specified through invoking cmake directly, but it's a great way to get started quickly and can serve as an example of how to build/install.
+The root of this repository has a helper script `install.sh` to build and install RCCL with a single command. It hard-codes configurations that can be specified through invoking cmake directly, but it's a great way to get started quickly and can serve as an example of how to build/install RCCL.
+
+### To build the library using the install script:
 
 ```shell
-./install.sh --help
+./install.sh
+```
 
+For more info on build options/flags when using the install script, use `./install.sh --help`
+```shell
+./install.sh --help
+RCCL build & installation helper script
  Options:
        --address-sanitizer     Build with address sanitizer enabled
     -d|--dependencies          Install RCCL depdencencies
@@ -33,37 +40,38 @@ The root of this repository has a helper script 'install.sh' to build and instal
     -f|--fast                  Quick-build RCCL (local gpu arch only, no backtrace, and collective trace support)
     -h|--help                  Prints this help message
     -i|--install               Install RCCL library (see --prefix argument below)
-    -j|--jobs                  Specify how many parallel compilation jobs to run (nproc by default)
+    -j|--jobs                  Specify how many parallel compilation jobs to run ($nproc by default)
     -l|--local_gpu_only        Only compile for local GPU architecture
+       --amdgpu_targets        Only compile for specified GPU architecture(s). For multiple targets, seperate by ';' (builds for all supported GPU architectures by default)
        --no_clean              Don't delete files if they already exist
        --npkit-enable          Compile with npkit enabled
        --roctx-enable          Compile with roctx enabled (example usage: rocprof --roctx-trace ./rccl-program)
     -p|--package_build         Build RCCL package
-       --prefix                Specify custom directory to install RCCL to (default: /opt/rocm)
+       --prefix                Specify custom directory to install RCCL to (default: `/opt/rocm`)
        --rm-legacy-include-dir Remove legacy include dir Packaging added for file/folder reorg backward compatibility
        --run_tests_all         Run all rccl unit tests (must be built already)
     -r|--run_tests_quick       Run small subset of rccl unit tests (must be built already)
        --static                Build RCCL as a static library instead of shared library
     -t|--tests_build           Build rccl unit tests, but do not run
-       --time-trace            Plot the build time of RCCL
+       --time-trace            Plot the build time of RCCL (requires `ninja-build` package installed on the system)
        --verbose               Show compile commands
 ```
 
 ## Manual build
 
-### To build the library :
+### To build the library using CMake:
 
 ```shell
 $ git clone https://github.com/ROCm/rccl.git
 $ cd rccl
 $ mkdir build
 $ cd build
-$ CXX=/opt/rocm/bin/hipcc cmake -DCMAKE_PREFIX_PATH=/opt/rocm/ ..
+$ cmake ..
 $ make -j 16      # Or some other suitable number of parallel jobs
 ```
-You may substitute an installation path of your own choosing by passing CMAKE_INSTALL_PREFIX. For example:
+You may substitute an installation path of your own choosing by passing `CMAKE_INSTALL_PREFIX`. For example:
 ```shell
-$ CXX=/opt/rocm/bin/hipcc cmake -DCMAKE_PREFIX_PATH=/opt/rocm/ -DCMAKE_INSTALL_PREFIX=$PWD/rccl-install ..
+$ cmake -DCMAKE_INSTALL_PREFIX=$PWD/rccl-install ..
 ```
 Note: ensure rocm-cmake is installed, `apt install rocm-cmake`.
 
@@ -123,11 +131,9 @@ Please refer to the [RCCL Documentation Site](https://rocm.docs.amd.com/projects
 
 Run the steps below to build documentation locally.
 
-```
+```shell
 cd docs
-
 pip3 install -r sphinx/requirements.txt
-
 python3 -m sphinx -T -E -b html -d _build/doctrees -D language=en . _build/html
 ```
 
diff --git a/install.sh b/install.sh
index 771ef80f9a..f8cd414007 100755
--- a/install.sh
+++ b/install.sh
@@ -16,12 +16,13 @@ build_package=false
 build_release=true
 build_static=false
 build_tests=false
-build_verbose=0
+build_verbose=false
 clean_build=true
 collective_trace=true
 enable_ninja=""
 install_dependencies=false
 install_library=false
+install_prefix="${ROCM_PATH}"
 msccl_kernel_enabled=true
 num_parallel_jobs=$(nproc)
 npkit_enabled=false
@@ -53,13 +54,13 @@ function display_help()
     echo "       --npkit-enable          Compile with npkit enabled"
     echo "       --roctx-enable          Compile with roctx enabled (example usage: rocprof --roctx-trace ./rccl-program)"
     echo "    -p|--package_build         Build RCCL package"
-    echo "       --prefix                Specify custom directory to install RCCL to (default: /opt/rocm)"
+    echo "       --prefix                Specify custom directory to install RCCL to (default: \`/opt/rocm\`)"
     echo "       --rm-legacy-include-dir Remove legacy include dir Packaging added for file/folder reorg backward compatibility"
     echo "       --run_tests_all         Run all rccl unit tests (must be built already)"
     echo "    -r|--run_tests_quick       Run small subset of rccl unit tests (must be built already)"
     echo "       --static                Build RCCL as a static library instead of shared library"
     echo "    -t|--tests_build           Build rccl unit tests, but do not run"
-    echo "       --time-trace            Plot the build time of RCCL"
+    echo "       --time-trace            Plot the build time of RCCL (requires \`ninja-build\` package installed on the system)"
     echo "       --verbose               Show compile commands"
 }
 
@@ -69,14 +70,14 @@ function display_help()
 
 # check if we have a modern version of getopt that can handle whitespace and long parameters
 getopt -T
-if [[ $? -eq 4 ]]; then
+if [[ "$?" -eq 4 ]]; then
     GETOPT_PARSE=$(getopt --name "${0}" --options dfhij:lprt --longoptions address-sanitizer,dependencies,debug,enable_backtrace,disable-colltrace,disable-msccl-kernel,fast,help,install,jobs:,local_gpu_only,amdgpu_targets:,no_clean,npkit-enable,roctx-enable,package_build,prefix:,rm-legacy-include-dir,run_tests_all,run_tests_quick,static,tests_build,time-trace,verbose -- "$@")
 else
     echo "Need a new version of getopt"
     exit 1
 fi
 
-if [[ $? -ne 0 ]]; then
+if [[ "$?" -ne 0 ]]; then
     echo "getopt invocation failed; could not parse the command line";
     exit 1
 fi
@@ -101,14 +102,14 @@ while true; do
          --npkit-enable)             npkit_enabled=true;                                                                               shift ;;
          --roctx-enable)             roctx_enabled=true;                                                                               shift ;;
     -p | --package_build)            build_package=true;                                                                               shift ;;
-         --prefix)                   install_prefix=${2};                                                                              shift 2 ;;
+         --prefix)                   install_library=true; install_prefix=${2};                                                        shift 2 ;;
          --rm-legacy-include-dir)    build_freorg_bkwdcomp=false;                                                                      shift ;;
     -r | --run_tests_quick)          run_tests=true;                                                                                   shift ;;
          --run_tests_all)            run_tests=true; run_tests_all=true;                                                               shift ;;
          --static)                   build_static=true;                                                                                shift ;;
     -t | --tests_build)              build_tests=true;                                                                                 shift ;;
          --time-trace)               time_trace=true;                                                                                  shift ;;
-         --verbose)                  build_verbose=1;                                                                                  shift ;;
+         --verbose)                  build_verbose=true;                                                                               shift ;;
     --) shift ; break ;;
     *)  echo "Unexpected command line parameter received; aborting";
         exit 1
@@ -116,8 +117,6 @@ while true; do
     esac
 done
 
-ROCM_BIN_PATH=$ROCM_PATH/bin
-
 # /etc/*-release files describe the system
 if [[ -e "/etc/os-release" ]]; then
     source /etc/os-release
@@ -129,22 +128,36 @@ else
     exit 2
 fi
 
+# CMake executable
+cmake_executable=cmake
+time_trace_ninja_msg="apt-get install ninja-build"
+case "${OS_ID}" in
+    centos|rhel)
+    cmake_executable=cmake3
+    time_trace_ninja_msg="dnf install ninja-build"
+  ;;
+esac
+
+# CMake build options; starts with toolchain info
+cmake_common_options="--toolchain=toolchain-linux.cmake"
+
 # throw error code after running a command in the install script
 check_exit_code( )
 {
-  if (( $1 != 0 )); then
-    exit $1
-  fi
+    if (( $1 != 0 )); then
+        exit "$1"
+    fi
 }
 
-if [[ "$build_release" == true ]]; then
+# set RCCL-UnitTests path
+if [[ "${build_release}" == true ]]; then
     unit_test_path="./build/release/test/rccl-UnitTests"
 else
     unit_test_path="./build/debug/test/rccl-UnitTests"
 fi
 
-if ($run_tests) && [[ -f $unit_test_path ]]; then
-    if [[ "$build_tests" == false ]]; then
+if [[ "${run_tests}" == true ]] && [[ -f "${unit_test_path}" ]]; then
+    if [[ "${build_tests}" == false ]]; then
         clean_build=false
     fi
 fi
@@ -153,7 +166,7 @@ fi
 # prep
 # #################################################
 # ensure a clean build environment
-if ($clean_build); then
+if [[ "${clean_build}" == true ]]; then
     if [[ "${build_release}" == true ]]; then
         rm -rf build/release
     else
@@ -164,7 +177,8 @@ fi
 # Create and go to the build directory.
 mkdir -p build; cd build
 
-if ($build_release); then
+# Create and go to build type directory
+if [[ "${build_release}" == true ]]; then
     mkdir -p release; cd release
 else
     mkdir -p debug; cd debug
@@ -190,17 +204,15 @@ fi
 # Backward compatibility wrappers
 if [[ "${build_freorg_bkwdcomp}" == true ]]; then
     cmake_common_options="${cmake_common_options} -DBUILD_FILE_REORG_BACKWARD_COMPATIBILITY=ON"
-else
-    cmake_common_options="${cmake_common_options} -DBUILD_FILE_REORG_BACKWARD_COMPATIBILITY=OFF"
 fi
 
 # Build local GPU arch only
-if [[ "$build_local_gpu_only" == true ]]; then
+if [[ "${build_local_gpu_only}" == true ]]; then
     cmake_common_options="${cmake_common_options} -DBUILD_LOCAL_GPU_TARGET_ONLY=ON"
 fi
 
 # Build for specified GPU target(s) only
-if [[ ! -z "$build_amdgpu_targets" ]]; then
+if [[ ! -z "${build_amdgpu_targets}" ]]; then
     cmake_common_options="${cmake_common_options} -DAMDGPU_TARGETS=${build_amdgpu_targets}"
 fi
 
@@ -214,29 +226,29 @@ if [[ "${collective_trace}" == false ]]; then
     cmake_common_options="${cmake_common_options} -DCOLLTRACE=OFF"
 fi
 
+# Disable msccl kernel
 if [[ "${msccl_kernel_enabled}" == false ]]; then
     cmake_common_options="${cmake_common_options} -DENABLE_MSCCL_KERNEL=OFF"
 fi
 
 # Install dependencies
-if ($install_dependencies); then
+if [[ "${install_dependencies}" == true ]]; then
     cmake_common_options="${cmake_common_options} -DINSTALL_DEPENDENCIES=ON"
 fi
 
+# Install RCCL library
+if [[ "${install_library}" == true ]]; then
+    cmake_common_options="${cmake_common_options} -DCMAKE_INSTALL_PREFIX=${install_prefix}"
+fi
+
 # Enable ROCTX
 if [[ "${roctx_enabled}" == true ]]; then
     cmake_common_options="${cmake_common_options} -DROCTX=ON"
 fi
 
-cmake_executable=cmake
-case "${OS_ID}" in
-    centos|rhel)
-    cmake_executable=cmake3
-  ;;
-esac
-
+# Enable NPKit
 npkit_options=""
-if ($npkit_enabled); then
+if [[ "${npkit_enabled}" == true ]]; then
     npkit_options="-DENABLE_NPKIT \
     -DENABLE_NPKIT_EVENT_TIME_SYNC_GPU \
     -DENABLE_NPKIT_EVENT_TIME_SYNC_CPU \
@@ -347,59 +359,80 @@ fi
 
 check_exit_code "$?"
 
-if ($time_trace); then
+# Enable ninja build for time tracing
+if [[ "${time_trace}" == true ]]; then
+    if ! hash ninja &>/dev/null ; then
+        echo "ninja could not be found"
+        echo "Use \"${time_trace_ninja_msg}\" to install ninja"
+        exit 1
+    fi
     build_system="ninja"
     enable_ninja="-GNinja"
 else
     build_system="make"
 fi
 
-if ($build_tests) || (($run_tests) && [[ ! -f ./test/rccl-UnitTests ]]); then
-    CXX=$ROCM_BIN_PATH/hipcc $cmake_executable $cmake_common_options -DBUILD_TESTS=ON -DNPKIT_FLAGS="${npkit_options}" -DCMAKE_INSTALL_PREFIX=$ROCM_PATH -DROCM_PATH=$ROCM_PATH -DONLY_FUNCS="$ONLY_FUNCS" $enable_ninja ../../.
+# Add common CMake options
+cmake_common_options="${cmake_common_options} -DROCM_PATH=${ROCM_PATH} -DONLY_FUNCS=${ONLY_FUNCS} ${enable_ninja}"
+
+# Build RCCL-UnitTests, if enabled
+if [[ "${build_tests}" == true ]] || ([[ "${run_tests}" == true ]] && [[ ! -x ./test/rccl-UnitTests ]]); then
+    cmake_common_options="${cmake_common_options} -DBUILD_TESTS=ON"
+fi
+
+# Initiate RCCL CMake
+# Passing NPKIT_FLAGS separately (not as part of ${cmake_common_options}) as
+# ${npkit_options} need to be passed "as-is" i.e. with `-D` to CMakeLists.txt
+${cmake_executable} ${cmake_common_options} -DNPKIT_FLAGS="${npkit_options}" ../../.
+check_exit_code "$?"
+
+# Enable verbose output from Makefile
+if [[ "${build_verbose}" == true ]]; then
+    build_system="${build_system} VERBOSE=1"
+fi
+
+# Initiate RCCL build (and install)
+if [[ "${install_library}" == true ]]; then
+    ${build_system} -j ${num_parallel_jobs} install
 else
-    CXX=$ROCM_BIN_PATH/hipcc $cmake_executable $cmake_common_options -DBUILD_TESTS=OFF -DNPKIT_FLAGS="${npkit_options}" -DCMAKE_INSTALL_PREFIX=$ROCM_PATH -DROCM_PATH=$ROCM_PATH -DONLY_FUNCS="$ONLY_FUNCS" $enable_ninja ../../.
+    ${build_system} -j ${num_parallel_jobs}
 fi
 check_exit_code "$?"
 
-if ($install_library); then
-    VERBOSE=${build_verbose} $build_system -j $num_parallel_jobs install
-else
-    VERBOSE=${build_verbose} $build_system -j $num_parallel_jobs
-fi
-check_exit_code "$?"
-
-if ($build_package); then
+# Initiate package build with `make package`, if enabled
+if [[ "${build_package}" == true ]]; then
     make package
     check_exit_code "$?"
 fi
 
-# Optionally, run tests if they're enabled.
-if ($run_tests); then
-    if (test -f "./test/rccl-UnitTests"); then
-        if ($run_tests_all); then
+# Optionally, run RCCL-UnitTests, if they're enabled.
+if [[ "${run_tests}" == true ]]; then
+    if [[ -x "./test/rccl-UnitTests" ]]; then
+        if [[ "${run_tests_all}" == true ]]; then
             ./test/rccl-UnitTests
         else
             ./test/rccl-UnitTests --gtest_filter="AllReduce.*"
         fi
     else
-        echo "rccl unit tests have not been built yet; please re-run script with -t to build rccl unit tests."
+        echo "RCCL-UnitTests have not been built yet; Please re-run script with \"-t\" to build RCCL-UnitTests."
         exit 1
     fi
 fi
 
-if ($time_trace); then
-    search_dir="../../"
-    time_trace_dir=$(find "$search_dir" -type d -name "time-trace" -print -quit)
+# Generate time trace for RCCL build using tools/time-trace
+if [[ "${time_trace}" == true ]]; then
+    search_dir="../../tools"
+    time_trace_dir=$(find "${search_dir}" -type d -name "time-trace" -print -quit)
 
-    if [ "$time_trace_dir" ]; then
-        time_trace_script="$time_trace_dir/rccl-TimeTrace.sh"
-        if [ -x "$time_trace_script" ]; then
+    if [[ -n "${time_trace_dir}" ]]; then
+        time_trace_script="${time_trace_dir}/rccl-TimeTrace.sh"
+        if [[ -x "${time_trace_script}" ]]; then
             echo "Generating RCCL-compile-timeline.html..."
-            (cd "$time_trace_dir" && ./rccl-TimeTrace.sh)
+            (cd "${time_trace_dir}" && ./rccl-TimeTrace.sh)
         else
-            echo "Error: Unable to execute $time_trace_script. Make sure the file has the correct permissions."
+            echo "Error: Unable to execute ${time_trace_script}. Make sure the file has the correct permissions."
         fi
     else
-        echo "Error: time-trace folder not found in $search_dir."
+        echo "Error: time-trace folder not found in ${search_dir}."
     fi
 fi
diff --git a/toolchain-linux.cmake b/toolchain-linux.cmake
new file mode 100644
index 0000000000..5a5a8b0416
--- /dev/null
+++ b/toolchain-linux.cmake
@@ -0,0 +1,19 @@
+
+if (DEFINED ENV{ROCM_PATH})
+  set(rocm_bin "$ENV{ROCM_PATH}/bin")
+else()
+  set(ROCM_PATH "/opt/rocm" CACHE PATH "Path to the ROCm installation.")
+  set(rocm_bin "/opt/rocm/bin")
+endif()
+
+if (NOT DEFINED ENV{CXX})
+  set(CMAKE_CXX_COMPILER "${rocm_bin}/hipcc" CACHE PATH "Path to the C++ compiler")
+else()
+  set(CMAKE_CXX_COMPILER "$ENV{CXX}" CACHE PATH "Path to the C++ compiler")
+endif()
+
+if (NOT DEFINED ENV{CC})
+  set(CMAKE_C_COMPILER "${rocm_bin}/hipcc" CACHE PATH "Path to the C compiler")
+else()
+  set(CMAKE_C_COMPILER "$ENV{CC}" CACHE PATH "Path to the C compiler")
+endif()