As rotary machines have become more complicated, balancing processes have been classified as a vital step in condition monitoring to ensure machines operate both reliably and safely. This is especially important for flexible machines which normally work at rotations speeds above critical limits. Imbalance is a common problem in flexible rotating machinery that can lead to extreme vibration and noise levels. This is one of the major reasons for studying various balancing methods applied to the vibration response of rotating machines. Recently, the relation between acoustic and vibration response during a rotary machine balancing process based on the Four-Run method has been presented for constant speed machines. This method cannot be applied to machines in start-up or shut-off. Hence, by considering the acoustic and vibration responses of a machine between its critical speeds, this research presents a new innovative speed-variant balancing method based on the original Four-Run method, named as "Peak to Peak for Critical Speeds (PPCS)". The proposed method consists of two major types of application: the first is in the Run-up of the machine and the second is in Shut-down. Experimental laboratory results show that the PPCS method can be implemented for speed-variant and flexible rotary machines during run-up or shut-down transient processes based on acoustic and vibration measurements. As a phase-less and a contactless method, the PPCS can be employed as an innovative and readily available method for condition monitoring in the future.