Rotatable member with an annular groove for dynamic balancing during rotation

A method is provided for balancing a rotating member having an annular balancing groove which is configured to receive and retain a balancing projectile. The method includes determining a circumaxial imbalance location, and firing a balancing projectile in timed relationship with the rotation of the member so that the balancing projectile enters the groove at the imbalance location. Such steps are repeated as required to cure additional points of imbalance.