In order to analyze the steady state and transient behavior of the CROCUS reactor, several methods and models need to be developed in the areas of reactor physics, thermal-hydraulics, and multiphysics coupling. The long-term objectives of this project are to work towards the development of a modern method for the safety analysis of research reactors and to update the Final Safety Analysis Report of the CROCUS reactor. A first part of the paper deals with generation of a core simulator nuclear data library for the CROCUS reactor using the Serpent 2 Monte Carlo code and also with reactor core modeling using the PARCS code. PARCS eigenvalue, radial power distribution, and control rod reactivity worth results were benchmarked against Serpent 2 full-core model results. Using the Serpent 2 model as reference, PARCS eigenvalue predictions were within 240 pcm, radial power was within 3% in the central region of the core, and control rod reactivity worth was within 2%. A second part reviews the current methodology used for the safety analysis of the CROCUS reactor and presents the envisioned approach for the multiphysics modeling of the reactor.