This research object on PT. Dirgantara Indonesia is the aerospace industry that focusing on production light aircraft or remote airplane, one of product PT. Dirgantara Indonesia N212-400 that have five ordered by Phillipine and Veitnam had a delay project. In this qualitative research with research approach is case study approach in identification causative factor of project delay, with the purpose of study is descriptive research and the process data validity and reliability using triangulation method. The data analysis in this research is the productivity of project, potential failure mode of the project using FMEA (Failure Mode and Effect Analysis) and fishbone diagram to determine the cause and effect the project delay. Result of the productivity during the project N212-400 is 40% and 40% productivity in aerospace indusrty is in the below average of aerospace industry that are 70% - 80%. By using fishbone and FMEA is identify the cause of delay and the potential failure of delay project N212-400 the main factor of project delay based on fishbone and FMEA is machine and material process. Both of key factor have high score of RPN (Risk Priority Number) that is 810, and this process should be give priority improvement