This paper describes architectural extensions for a dynamically scheduled processor, so that it can be used in three different operation modes, ranging from high-performance, to high-reliability. With minor hardware-extensions of the control path, the resources of the superscalar data-path can be used either for high-performance execution, fail-safe-operation, or fault-tolerant-operation. This makes the processor-architecture a very good candidate for applications with dynamically changing reliability requirements, e. g. for automotive applications. The paper reports the hardware-overhead for the extensions, and investigates the performance penalties introduced by the fail-safe and fault-tolerant mode. Furthermore, a comprehensive fault simulation was carried out in order to investigate the fault-coverage of the proposed approach.