Refactor and update Makefiles

[Prajyot-Parab]

Signed-off-by: Prajyot-Parab [email protected]

What this PR does / why we need it:

• Refactor and update Makefile

Which issue(s) this PR fixes (optional, in fixes #<issue number>(, fixes #<issue_number>, ...) format, will close the issue(s) when PR gets merged):
Fixes #607

Special notes for your reviewer:

/area provider/ibmcloud

1. Please confirm that if this PR changes any image versions, then that's the sole change this PR makes.

Release note:

Refactor and update Makefile

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[Prajyot-Parab]

/cc @mkumatag

[mkumatag]

/lgtm
/approve

[k8s-ci-robot]

[APPROVALNOTIFIER] This PR is APPROVED

This pull-request has been approved by: mkumatag, Prajyot-Parab

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[mkumatag]

/cherrypick release-0.2

[k8s-infra-cherrypick-robot]

@mkumatag: new pull request created: #675

In response to this:

/cherrypick release-0.2

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