This project is ahead of schedule, so you're not going to need the buffer, we'll reallocate resources for that time.
The project is on schedule, let's move up the deadline a little just so we have a bit of buffer at the end.
This project is slightly behind schedule, let's schedule a daily hour long meeting to go over everything to get things back on schedule.
The project is further behind schedule, how about you redo a major part of the project to try a different approach that will hopefully be sufficiently faster that you'll not only recover the cost of the reimplementation but also get back onto the original schedule.
The project has fallen even further behind schedule, and other things are starting to pile up, we need to pull some resources away to deal with them.
The project is ridiculously far behind schedule, people are losing faith in your ability to deliver, you need to get back on schedule before they'll approve more resources for this project.
The project has fallen too far behind schedule, we're pulling the plug. I've scheduled a lengthy post-mortem meeting so we have plenty of time to go over how you failed to bring this project to completion so you will learn from your mistakes.