The small punch test (SPT) was developed for situations where source material is scarce, costly or otherwise difficult to acquire, and has been used for assessing components with variable, location-dependent material properties. Although lacking standardization, the SPT has been employed to assess material properties and verified using traditional testing. Several methods exist for equating SPT results with traditional stress-strain data. There are, however, areas of weakness, such as fracture and fatigue approaches. This document outlines the history and methodologies of SPT, reviewing the body of contemporary literature and presenting relevant findings and formulations for correlating SPT results with conventional tests. Analysis of literature is extended to evaluating the suitability of the SPT for use with additively manufactured (AM) materials. The suitability of this approach is shown through a parametric study using an approximation of the SPT via FEA, varying material properties as would be seen with varying AM process parameters. Equations describing the relationship between SPT results and conventional testing data are presented. Correlation constants dictating these relationships are determined using an accumulation of data from the literature reviewed here, along with novel experimental data. This includes AM materials to assess the fit of these and provide context for a wider view of the methodology and its interest to materials science and additive manufacturing. A case is made for the continued development of the small punch test, identifying strengths and knowledge gaps, showing need for standardization of this simple yet highly versatile method for expediting studies of material properties and optimization.