schedule delays management

Stefano - Adding my 2 cents here. You might already be aware of this
If the team is running the project against a baseline estimate, then there are two variables
Total Baseline Effort = Effort Burned to-date + Effort Remaining
The other variable the actual PM of the project has to give to you from time to time is ETC(Effort required for completion) which is based on expert judgement. In an ideal situation, when the project is running on schedule Effort Remaining = ETC

If ETC is greater than Effort Remaining, then the project is running behind schedule. If you need to put it back on track you need to escalate the cost by putting more resources or let it run behind schedule. If you want to depict this to management, then a decision tree would be suitable based on what options are available. You need to get the ETC update from the PM on a regular basis to see whether the project is on schedule and take actions on it as appropriate