This chapter describes the motivation for the ultrasound methodology development for measurement and characterization of liquid flow containing solid particles, in online (real-time) process conditions. The project’s applications are related to the monitoring of solids and liquid flow, the control of flow dynamics parameters, namely particle concentration and flow speed, and the detection of flow turbulence. The applications are related to petroleum production engineering, however, the methodology is useful for a range of other industries. Global ultrasound technology applications are listed. The project’s technical and management objectives, its structure, and the metrics of innovation projects are explained.