I want to update my VSD software and clean out any unused files/imgs. Would this be the right sequence and the best way to do this?

1) rename folder on hard drive to examplewebsite_old (for backup purposes)
2) rename folder on server to examplewebsite_old (for backup purposes)
3) create new folder on server -- name it examplewebsite (original name)
4) delete VSD software
5) upload new version VSD software
6) open examplewebsite_old website with new VSD
7) file> save as> use original website name = examplewebsite
8) done

Thanks,
yeto