In recent years, Arthur D. Little has been applying its Third Generation R&D principles to a wide variety of technology management assignments. Many of our clients are process and/or production companies (e.g., major oil companies, chemical manufacturers, and pulp and paper producers) that continue to face difficult technology management decisions. In an era of dramatically reduced R&D spending in these mature industries, managers are nevertheless coming to see technology management as a key strategic driver for operational improvement and sustained market performance. Although among our client firms we see a wide range of technological sophistication, we've noticed that many companies – even the most sophisticated – make similar mistakes. In this article we highlight 13 technology management "pitfalls" we often see in the process industries, but which are common in a range of other industries as well.