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Transport of compressed video is expected to pervade computer networks in the near future. Video is commonly encoded in variable bit rate traffic to improve video quality and reduce encoding delays and yet to make efficient use of the available capacity using statistical multiplexing. Variable bit rate coded video imposes a real challenge to network planners who aim to evaluate its necessary capacity share. In this paper, we present a dimensioning model tailored especially for variable bit rate video transmission over IP networks taking the network delay into account unlike existing dimensioning models. We investigate this new model in terms of different system parameters.