Although any good systems administrator does an adequate amount of planning before deploying virtual machines on a virtual host, it still happens that sometimes our hard disk requirements change. When this happens it may become necessary to resize your virtual disks so that they are smaller, allowing for deployment of additional VMs.
This can be done easily with VHD Resizer, a free tool released by the vmToolkit user community. Not only will the tool resize VHD files, but it will also convert between fixed and dynamically expanding disk types. You can download VHD Resizer at http://vmtoolkit.com/files/default.aspx.