Today central topic in science and engineering is parallel and distributed computing, research performing in the area of development of new approaches for the modeling, design, analysis, evaluation, and programming of future parallel and distributed computing systems and its applications. To detect the presence of dependency between tasks, analytic methodology is required. This review theoretically analyzes what is dependency, different types of dependencies, various applications which require dependency analysis and different approaches towards dependency analysis. This research classifies dependency analysis approaches on the basis of input source; for different input source different methodology is available, this review considers an input source as a component base system with dependent components. This research gives review of dependency analysis solutions for various areas like parallel processing, high performance computing, security and vulnerability in software's where various approaches are used for dependency analysis. This review concludes that there are various methods available for dependency analysis. Most of the methods use graph base approach, conceptual graph approach and matrix based approach, out of which this review puts forward the best possible approach. This research proposes a new approach for dependency analysis which results in the reduced dependent analysis time, low memory consumption and less cost sensitive. © 2016 The Authors.