Let X1, X2, ... be a (linear or circular) sequence of trials with three possible outcomes (say S, S* or F) in each trial. In this paper, the waiting time for the first appearance of an S-run of length k or an S*-run of length r is systematically investigated. Exact formulae and Chen-Stein approximations are derived for the distribution of the waiting times in both linear and circular problems and their asymptotic behaviour is illustrated. Probability generating functions are also obtained when the trials are identical. Finally, practical applications of these results are discussed in some detail.