diff --git a/CMakeLists.txt b/CMakeLists.txt
index d40c03ce6..3d546f227 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -5,6 +5,9 @@
 #  ninja
 #
 # Common options passed to cmake are:
+#  -DIN_PLACE=1
+#      Configure the build to be run from the build directory, this results in something
+#      that is not installable.
 #  -DCMAKE_EXPORT_COMPILE_COMMANDS=1
 #      Write a compile_commands.json file for clang tooling
 #  -DCMAKE_BUILD_TYPE=RelWithDebInfo
@@ -45,6 +48,13 @@ set(PACKAGE_VERSION "12")
 
 #-------------------------
 # Basic standard paths
+
+# Override the CMAKE_INSTALL_ dirs to be under the build/ directory
+if (IN_PLACE)
+  set(CMAKE_INSTALL_SYSCONFDIR "${CMAKE_BINARY_DIR}/etc")
+  set(CMAKE_INSTALL_BINDIR "${CMAKE_BINARY_DIR}/bin")
+endif()
+
 include(GNUInstallDirs)
 # C include root
 set(BUILD_INCLUDE ${CMAKE_BINARY_DIR}/include)
@@ -52,9 +62,9 @@ set(BUILD_INCLUDE ${CMAKE_BINARY_DIR}/include)
 set(BUILD_BIN ${CMAKE_BINARY_DIR}/bin)
 # Libraries
 set(BUILD_LIB ${CMAKE_BINARY_DIR}/lib)
+# Used for IN_PLACE configuration
+set(BUILD_ETC ${CMAKE_BINARY_DIR}/etc)
 
-# Location to place provider .driver files
-set(CONFIG_DIR "${CMAKE_INSTALL_FULL_SYSCONFDIR}/libibverbs.d")
 set(CMAKE_INSTALL_INITDDIR "${CMAKE_INSTALL_SYSCONFDIR}/init.d"
   CACHE PATH "Location for init.d files")
 set(CMAKE_INSTALL_SYSTEMD_SERVICEDIR "${CMAKE_INSTALL_PREFIX}/lib/systemd/system"
@@ -87,6 +97,15 @@ else()
   set(CMAKE_INSTALL_FULL_UDEV_RULESDIR "${CMAKE_INSTALL_UDEV_RULESDIR}")
 endif()
 
+# Location to place provider .driver files
+if (IN_PLACE)
+  set(CONFIG_DIR "${BUILD_ETC}/libibverbs.d")
+  set(VERBS_PROVIDER_DIR "${BUILD_LIB}")
+  set(ACM_PROVIDER_DIR "${BUILD_LIB}/ibacm")
+else()
+  set(CONFIG_DIR "${CMAKE_INSTALL_FULL_SYSCONFDIR}/libibverbs.d")
+endif()
+
 set(DISTRO_FLAVOUR "None" CACHE
   STRING "Flavour of distribution to install for. This primarily impacts the init.d scripts installed.")
 
diff --git a/README.md b/README.md
index b77256ef4..4c1450eb2 100644
--- a/README.md
+++ b/README.md
@@ -42,7 +42,8 @@ $ bash build.sh
 ```
 
 *build/bin* will contain the sample programs and *build/lib* will contain the
-shared libraries.
+shared libraries. The build is configured to run all the programs 'in-place'
+and cannot be installed.
 
 NOTE: It is not currently easy to run from the build directory, the plugins
 only load from the system path.
diff --git a/build.sh b/build.sh
index 10518d85b..17dc4408f 100755
--- a/build.sh
+++ b/build.sh
@@ -23,9 +23,9 @@ fi
 cd "$BUILDDIR"
 
 if [ "x$NINJA" == "x" ]; then
-    $CMAKE ..
+    $CMAKE -DIN_PLACE=1 ..
     make
 else
-    $CMAKE -GNinja ..
+    $CMAKE -DIN_PLACE=1 -GNinja ..
     $NINJA
 fi
diff --git a/buildlib/rdma_functions.cmake b/buildlib/rdma_functions.cmake
index fcd47a35b..5256ad997 100644
--- a/buildlib/rdma_functions.cmake
+++ b/buildlib/rdma_functions.cmake
@@ -79,8 +79,8 @@ function(rdma_provider DEST)
   install(FILES "${CMAKE_CURRENT_BINARY_DIR}/${DEST}.driver" DESTINATION "${CONFIG_DIR}")
 
   # Uninstalled driver file
-  file(MAKE_DIRECTORY "${BUILD_LIB}/libibverbs.d/")
-  file(WRITE "${BUILD_LIB}/libibverbs.d/${DEST}.driver" "driver ${BUILD_LIB}/${DEST}\n")
+  file(MAKE_DIRECTORY "${BUILD_ETC}/libibverbs.d/")
+  file(WRITE "${BUILD_ETC}/libibverbs.d/${DEST}.driver" "driver ${BUILD_LIB}/lib${DEST}\n")
 
   # Create a static provider library
   # FIXME: This is probably pointless, the provider library has no symbols so
diff --git a/ibacm/CMakeLists.txt b/ibacm/CMakeLists.txt
index 505fba30a..feb1de41b 100644
--- a/ibacm/CMakeLists.txt
+++ b/ibacm/CMakeLists.txt
@@ -36,6 +36,11 @@ target_link_libraries(ibacmp LINK_PRIVATE
 set_target_properties(ibacmp PROPERTIES
   LIBRARY_OUTPUT_DIRECTORY "${BUILD_LIB}")
 install(TARGETS ibacmp DESTINATION "${ACM_PROVIDER_DIR}")
+# ACM providers are linked into a subdir so that IN_PLACE can work.
+file(MAKE_DIRECTORY "${BUILD_LIB}/ibacm/")
+execute_process(COMMAND "${CMAKE_COMMAND}" -E create_symlink
+    "../libibacmp.so"
+    "${BUILD_LIB}/ibacm/libibacmp.so")
 
 rdma_executable(ib_acme
   src/acme.c