Just to restate that buy share is to buy future.
Having read the updates, the positive side is "The customers are paying fees to Enerji for professional time conducting the inspections and report/proposal preparation as well as covering travel and other expenses. This indicates both the level of demand for these systems and recognition of Enerji’s expertise." To me, there is good future, we need to get first up and running though.
In terms of Carnarvon Power Station project, no doubt, the program management is extremely poor, lack of experience is part of contribution, but I don't think it's the main one.
I've been a project manager for many programs, the way I manage the supplier is to have weekly meeting to review all the open issues and timing plan, any slippage need contingency or recovery plan to make sure not to miss any milestone. By reviewing supplier timing plan, you will know by when they need to complete what, the more detail reviewed, the more control you have. Therefore, to me, "the piping not due on site until the middle of October. This is due to scheduling slippage at the manufacturer." is not acceptable, the board should know it way advance not on due date. Also, what's the compensation ERJ is entitled to, they have to make the supplier accountable.
Positive side, hopefully they can get experiences and lessons learned from first box, and apply to the future order. If they feel like not to be capable to manage the project, either they step down or hire experienced manager at their own cost not company's.
Anyway, above is my own opinion, and I still believe the future of this company even though we are suffering short term pain caused by poor program management. Being SH for ERJ for few years, wish all the best to all the SHs and our belief and patience should be rewarded.
PS. Enjoy the AFL Final :)
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