Possible Duplicate:
Setting up a build dependency without using a reference?
Is it possible to set a project to force another project to be built, but without having to setup a reference?
They are basically no different, they are used to store and manage references. Just as Lex said, the Dependencies is a better way to represent different types of references, we can clearly know where the reference comes from, SDK, nuget, etc. so that we can manage our references more efficiently.
To fix a broken project reference by correcting the reference path. In Solution Explorer, right-click your project node, and then select Properties. The Project Designer appears. If you're using Visual Basic, select the References page, and then click the Reference Paths button.
Right-click on your solution and choose Project dependencies
. This allows you to set a build time dependency between projects, without referencing.
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