Analytical methods in engineering and economics have been proposing that investments in safety lead to improvements in performance. However, no research has proposed a management approach that studies the organizational elements that conceive safety management as a source of strategical performance to a company. In this study, we aim to shed light into a possible theoretical path that could bridge this issue in the construction industry. We present a framework explaining how Knowledge Management can leverage both worlds under the condition of having a psychological safe environment. After, we draw final considerations, limitations, and indications to further studies.