The feasibility of using a two-stage unshrouded impeller turbopump to replace the current three-stage reusable launch vehicle engine shrouded impeller hydrogen pump has been evaluated from the standpoint of turbopump weight reduction and overall payload improvement. These advantages are a by-product of the higher tip speeds that an unshrouded impeller can sustain. The issues associated with the effect of unshrouded impeller tip clearance on pump efficiency and head have been evaluated with one-dimensional tools and full three-dimensional rotordynamic fluid reaction forces and coefficients have been established through time dependent computational fluid dynamics (CFD) simulation of the whole 360 degree impeller with different rotor eccentricities and whirling ratios. Unlike the shrouded impeller, the unshrouded impeller forces are evaluated as the sum of the pressure forces on the blade and the pressure forces on the hub using the CFD results. The turbopump axial thrust control has been optimized by adjusting the first stage impeller backend wear ring seal diameter and diverting the second stage backend balance piston flow to the proper location. The structural integrity associated with the high tip speed has been checked by analyzing a 3D-Finite Element Model at maximum design conditions (6% higher than the design speed). This impeller was fabricated and tested in the NASA Marshall Space Flight Center water-test rig. The experimental data will be compared with the analytical predictions and presented in another paper. The experimental data provides validation data for the numerical design and analysis methodology. The validated numerical methodology can be used to help design different unshrouded impeller configurations.