The Installation Guide no longer applies directly to the OSS release because the INSTALL script is no longer needed, but you still may find it useful. In general, you will want to install the RPMs as follows:
This should be installed on one node (or two if you employ failover) in your cluster where the server and scheduler will run. Most admins prefer not to run jobs on this node, but it is certainly possible. This RPM also installs everything you would get with the execution and client packages.
This package should be installed on all nodes where you want your jobs to run. It provides the pbs_mom daemon, but not the server or scheduler. Admins generally restrict login access to these nodes to prevent users from logging in and impacting running jobs. This RPM also includes everything you would get with the client package.
This package should be installed on nodes where users are allowed login access, like their workstations. It does not contain any daemons, but allows users to submit and control their jobs.
Only required when trying to debug an issue via gdb. You won't need this unless you manage to crash something in PBS Pro that creates a core dump.
This is the source code for PBS Pro, also used for debugging.