My gulpfile.js config

gulpfile.js

var gulp = require('gulp'),
    autoprefixer = require('gulp-autoprefixer'),
    minifycss = require('gulp-minify-css'),
    uglify = require('gulp-uglify'),
    rename = require('gulp-rename'),
    concatenate = require('gulp-concat');

gulp.task('styles', function(){
    return gulp.src('assets/stylesheets/*.css')
        .pipe(autoprefixer('last 2 version', 'safari 5', 'ie 8', 'ie 9', 'ios 6', 'android 4'))
        .pipe(concatenate('styles.css'))
        .pipe(gulp.dest('build/assets/stylesheets'))
        .pipe(minifycss())
        .pipe(gulp.dest('build/assets/stylesheets'));
});

gulp.task('scripts', function(){
    return gulp.src('assets/scripts/*.js')
        .pipe(uglify())
        .pipe(gulp.dest('build/assets/scripts'));
});

gulp.task('copy-files', function(){
    return gulp.src(['assets/fonts/**','assets/images/**'])
        .pipe(gulp.dest('build/assets/'));
});

gulp.task('copy-html', function(){
    return gulp.src(['**/**/*.html','!node_modules/**'])
        .pipe(gulp.dest('build/'));
});

gulp.task('watch', function(){

    gulp.watch(['**/**/*.html','!node_modules/**'], ['copy-html']);

    gulp.watch(['assets/fonts/**','assets/images/**'], ['copy-files']);

    gulp.watch('assets/stylesheets/*.css', ['styles']);

    gulp.watch('assets/scripts/*.js',['scripts']);

});

gulp.task('default', function() {
    gulp.start('copy-html', 'copy-files', 'styles', 'scripts');
});

I see. What exactly do you mean by project dependencies? The css/js/image files?

node_module directory is known as the project dependencies that is reqd. to perform build.
css/js/img are the project assets.
gulpfile.js/package.json,_config.yml are the build configs.

There is no strict nomenclature though :). I just made up the above list on the fly.

haha! Thanks a lot. :D I might talk to you again when I start with bowerJS though.