Dependencies refer to the relationships between different components in a system, where one component relies on another to function properly. In software development, for example, a program may depend on specific libraries or frameworks to perform certain tasks. If these dependencies are not met, the program may fail to run or produce errors. In project management, dependencies can also describe the sequence of tasks. For instance, completing task A may be necessary before starting task B. Understanding these dependencies helps in planning and scheduling, ensuring that projects progress smoothly and efficiently.