We have developed a new traffic measuring tool and applied it to the real-time simulation of a network. It monitors IP traffic on an ATM link and continuously transfers the length and timestamp of each IP packet to a post-processing system. The post-processing system receives the data, estimates the cell's arrival epoch at the transmission queue of the ATM link, and simulates the queueing behavior on-line if conditions differ from those of the actual system. The measuring tool and real-time simulation represent a new approach to traffic engineering. A new estimation problem, the arrival sequence estimation, is shown and some algorithms are proposed and evaluated. Also, a new dimensioning algorithm called the queue decay parameter method, which is expected to be robust and applicable to real-time control, is proposed and evaluated.