The research lies within the field of Project Management (scheduling, risk analysis, project control) and mainly focuses on Risk Analysis. A decision matrix used for Risk Analysis is drawn up, taking different categories of consequences (e.g. safety, operational impact, replacement cost) and probabilities of occurrence of these consequences into consideration. The Risk Analysis is done on the work package and activity level, contrary to the project level already being applied at BR2 (e.g. PAM program). A priority index (PI) is calculated, which is used to incorporate the activities in a certain order in the planning. Based on this PI, a new schedule is set up for the project(s). The outcome of applying this methodology (applying the risk matrix to the scheduling of the project) is then simulated. This allows seeing how the schedule performs. Some kind of buffer management could also be done, depending on the data provided and the time left to work on the thesis. The objective is to see whether it can be beneficial for planning purposes to capture the ‘risk’ impacts on this more detailed level, and to in fact propose another methodology to the scheduling of the refurbishment project.