To get smart-make ready on your system, you first will need to get parrot vm ready:

$ svn co https://svn.perl.org/parrot/tags/RELEASE_0_8_0 parrot
$ cd parrot && perl Makefile.PL && make

Normally there will be fine, you may check some more information here. Now that parrot should be ready, you can check out and build smart-make:

$ cd languages
$ svn co http://smart-make.googlecode.com/svn/trunk smart
$ cd smart
$ make 
$ make test # run the tests