The recovery and valorization of waste are some of the key aspects of sustainable production. The crustacean exoskeletons can be potentially used to obtain value-added products such as chitosan. A comprehensive analysis including both safety and sustainability aspects of chitosan production from shrimp shells is presented in this study. The inherent safety analysis and sustainability evaluation was performed using the Inherent Safety Index (ISI) methodology and the Sustainable Weighted Return on Investment Metric (SWROIM), respectively. The process was designed for a processing capacity of 57,000 t/y according to shrimp production in Colombia. The economic (%ROI), environmental (PEI output), energy (exergy efficiency), and safety (ITI) technical parameters were included in the sustainability evaluation. The three first were obtained from the previous analysis performed by the authors. The total inherent safety index was estimated at 25 indicating that the process is inherently unsafe. The main process risks were given by the dangerous substance, reactivity, and inventory subindices. The overall sustainability evaluation showed a SWROIM of 36.23% indicating that the case study showed higher weighted performance compared to the return on investment (ROI) metric of 18.08%.