If another monitor or projector is connected, then when you open Display Preferences you will have a separate dialog box on each screen, with options specific for the monitor or projector using that screen (unless your displays are being mirrored, for obvious reasons).
So you will have to wait until you connect to that projector in order to adjust the settings. On the positive side, assuming that it is a single projector you commonly use (in a meeting room or classroom or so on), then OS X will remember that projector and the settings you applied. Actually, since projectors are fairly simple pieces of kit, it will actually remember that model of projector and the settings should be re-applied whenever you connect to another projector of the same model.