Internet is a rapidly growing global Packet Network which enables worldwide communication to its users. New emerging services (such as Voice over IP, Multimedia Streaming) which require firm end-to-end Quality of Service guarantees need to be supported in order to enrich users’ communication. The connectionless nature of the network (resulting from the IP protocol) can only provide best-effort guarantees.Different approaches have been developed in order to cope with the provision of Quality of Service to the Internet. In this book we focused on Traffic Engineering strategies and we developed a new innovative bandwidth allocation scheme for packet networks that supports multirate traffic. We applied this approach on packet networks and obtained the required performance measures. The results denote that the algorithm can provide QoS guarantees in terms of bandwidth allocation, Packet loss (GoS) and delay by appropriate balancing between the load and the available resources at every network node.