Normally managed code projects are built into a single output file regardless of how many programs exist within the project. All of these programs will be compiled and then output to a single assembly which is either an .exe or .dll.
Using the multi-output project allows you to create a separate .dll or .exe assembly for each COBOL source program within the project.
This is supported only for procedural COBOL programs and not for OO COBOL classes.
It allows you more flexibility over the creation of your assemblies without the need to create a separate project for each output assembly.
Thanks.