The analysis of real-time properties of an embedded system usually relies on the worst-case execution times (WCET) of the tasks to be executed. In contrast to that, in real world applications the running time of tasks may vary from execution to execution, e.g. in multimedia applications. The traditional worst-case analysis of the system then returns overly pessimistic estimates of the system performance. In this paper we propose a new effective method to characterize tasks with variable execution requirements, which leads to tighter worst-case bounds on system performance and better use of available resources. We show the applicability of our approach by a detailed study of a multimedia application.