i don't 'perform' at my maximum tempo, that is, i'll purposely work to have a work be playable at a faster tempo than i will perform it, with you're example, if my performance goal for a piece or passage etc is 'quarter note click =160' then i will work incredibly hard to ensure a 172+ is achievable so i can really settle into that goal tempo, also you must perform enough to realize if you are the type that under 'performance' conditions things speed up (but may seem slow ) to you, so if you know nerves will push the tempo for you, all the more reason to try and play a bit on the low side so you are more than capable of handling things should they speed up on you.
as for if you don't succeed in overshooting the goal, then my two options are play slightly under tempo (to a point, as long the the range is within reason and in line with an appropriate interpretatin, i.e. work keeps it's energy or character), or i consider scrapping the work, post poning the performance etc.
in a music college setting, i don't know how it is done elsewhere, but we had 'recital' hearings where you presented the entire program front to back for the faculty/piano department, two weeks minimum from the date of the program, if you didn't 'pass' or they deemed the program is not ready you are not allowed to advertise and present the actual program to the public until you re play it for them several weeks later (a sort of recital audition if you will).