Previous studies have revealed that laser power and energy density are significant factors affecting the quality of parts manufactured by selective laser melting (SLM). The normalized equivalent densityE(0)* and dimensionless laser powerq*, which can be regarded as a progress on the understanding of the corresponding dimensional quantities, are adopted in this study to examine the defects, melt pool shape, and primary dendrite spacing of the SLM-manufactured 316L stainless steel, because it reflects the combined effect of process parameters and material features. It is found that the number of large defects decreases with increasingE(0)* due to enough heat input during the SLM process, but it will show an increasing trend when excessive heat input (i.e., utilizing a highE(0)*) is imported into the powder bed. Theq* plays an important role in controlling maximum temperature rising in the SLM process, and in turn, it affects the number of large defects. A largeq* value results in a low value of absolute frequency of large defects, whereas a maximum value of absolute frequency of large defects is achieved at a lowq* even ifE(0)* is very high. The density of the built parts is greater at a higherq* whenE(0)* remains constant. Increasing the melt pool depth at relatively low value ofE(0)* enhances the relative density of the parts. A narrow, deep melt pool can be easily generated at a highq* whenE(0)* is sufficiently high, but it may increase melt pool instability and cause keyhole defects. It is revealed that a lowE(0)* can lead to a high cooling rate, which results in a refined primary dendrite spacing. Relatively lowE(0)* is emphasized in selecting the process parameters for the tensile test sample fabrication. It shows that excellent tensile properties, namely ultimate tensile strength, yield strength, and elongation to failure of 773 MPa, 584 MPa, and 46%, respectively, can be achieved at a relatively lowE(0)* without heat treatment.