We study the Bishop-Phelps-Bollobàs property  
 $\left( \text{BPBp} \right)$  for compact operators. We present some abstract techniques that allow us to carry the  
 $\text{BPBp}$  for compact operators from sequence spaces to function spaces. As main applications, we prove the following results. Let  
 $X$  and  
 $Y$  be Banach spaces. If  
 $\left( {{c}_{0}},Y \right)$ has the  
 $\text{BPBp}$  for compact operators, then so do  
 $\left( {{C}_{0}}\left( L \right),Y \right)$ for every locally compact Hausdorff topological space  
 $L$  and  
 $\left( X,\,Y \right)$  whenever  
 ${{X}^{*}}$  is isometrically isomorphic to  
 ${{\ell }_{1}}$ . If  
 ${{X}^{*}}$  has the Radon-Nikodým property and  
 $\left( {{\ell }_{1}}\left( X \right),\,Y \right)$  has the  
 $\text{BPBp}$  for compact operators, then so does  
 $\left( {{L}_{1}}\left( \mu ,X \right),\,\,Y \right)$ for every positive measure  
 $\mu $ ; as a consequence,  
 $\left( {{L}_{1}}\left( \mu ,X \right),\,\,Y \right)$ has the  
 $\text{BPBp}$  for compact operators when  
 $X$  and  
 $Y$  are finite-dimensional or  
 $Y$  is a Hilbert space and  
 $X={{c}_{0}}$ or  
 $X={{L}_{p}}\left( v \right)$ for any positive measure  
 $v$  and  
 $1\,<\,p\,<\,\infty $ . For  
 $1\,\le p\,<\,\infty$ , if  
 $\left( X,{{l}_{p}}(Y) \right)$  has the  
 $\text{BPBp}$  for compact operators, then so does  
 $\left( X,{{L}_{p}}\left( \mu ,\,Y \right) \right)$ for every positive measure  
 $\mu $  such that  
 ${{L}_{1}}\left( \mu\right)$ is infinite-dimensional. If  
 $\left( X,\,Y \right)$  has the  
 $\text{BPBp}$  for compact operators, then so do  
 $\left( X,\,{{L}_{\infty }}\left( \mu ,\,\,Y \right) \right)$ for every  
 $\sigma $ -finite positive measure  
 $\mu $  and  
 $\left( X,\,C\left( K,\,Y \right) \right)$  for every compact Hausdorff topological space  
 $K$ .