The construction contractor is concerned with reducing the cost of the project, including reducing unnecessary downtime. This is achieved when resources are fully utilized; this means the crews work continuously moving without interruption from one location to the other. However, any disturbance in the optimally scheduled workflow caused by random events is likely to result in delays, interruptions in the crews work, and productivity losses. There is therefore a need for scheduling methods that allow plans to be more resilient to disruptions and ensure a reduction in downtime and implementation costs. The authors put forward a proactive-reactive approach to the schedule risk management. Proposed method makes it possible to protect schedule deadlines from the impact of risk factors by allocating time buffers (proactive approach). It also takes into account the measures that managers take during execution in response to delays that occur, such as changing construction methods, employing extra resources, or working overtime (reactive approach). It combines both ideas and is based on project simulation technique. The merits of the proposed approach are illustrated by a case of a repetitive project to erect a number of buildings. The presented example proves that the proposed method enables the planner to estimate the scale of delays of processes’ start and consider the impact of measures to reduce duration of processes in particular locations taken in reaction to delays. Thus, it is possible to determine the optimal schedule, at which the costs of losses associated with delays and downtime are minimal.