rajm008,
I think that LittleInch has summarized for you the procedure...
If after trimming and testing - the readings show that the required rated flow and head (see LittleInch above post / step 2) are achieved than you are done. The only thing I want to add is this: You seem to calculate the target (trimmed) diameter using some theoretical equations, is this correct? Are you improvising some sort of approach using fan laws or technical literature derived formula OR are you using an OEM proven procedure? I am not specialist of pump testing, but I suspect any OEM's (if that is your case) have procedure in place for performing this operation.
I know it is not rocket science, but If you use some of your own formula, I would keep a margin just in case, because the equations do not model exactly the real behavior, you don't want to end up in the scenario highlighted in the above post - per step 1.... Just out of my common sense here, I would use/invest in some intermediate step(s) of trimming - bottom line is to not overshooting the final trimming diameter...