With regard to my last comment (the problem with small changes in a file resulting in full-system recompilation), see Tup. It maintains a database of what's happened. So when foo.c is altered it will regenerate foo.o. But if foo.o is not changed, you can set it up to not do anything else. The database is updated to reflect that the current foo.c maps to the current foo.o, and no tasks depending on foo.o will be executed. Tup also handles the case of multiple outputs from a task. There are probably others that do this, it's the one I found that worked well for my (filesystem-based) workflows.
With regard to general workflows (that involve non-filesystem activities), you have to have a workflow system that registers when events happened and other traits to determine whether or not to reexecute all or part of the workflow.
GNU make handles multiple outputs alright but I will admit they if you want something portable it's pretty hairy.
I don't use it anymore, for several reasons. One is that it would be too off-the-wall for my current work environment. The deeper reason is that it demands a very static view of the world. What I really want is not fast incremental builds, but a live programming environment. We're building custom tooling for that (using tsserver), and it's been very interesting. It's challenging, but one tradeoff is that you don't really care how long a build takes, incremental or otherwise.