Real-time scheduling, or scheduling with respect to a deadline, is critical in many application areas such as telecommunications, control systems, and manufacturing. This paper presents a novel approach to real-time scheduling based on a queueing theory model. Using real-time queueing theory (RTQT), one can analytically determine the distribution of the lead-time profile (i.e., the time until the deadline is reached) of customers waiting for service. Emphasis is placed on the development of the equations used to determine the lead-time profile distribution. The development of the GI/G/1 case is presented and confirmed using simulation. Simulation results confirm prior research for the M/M/1 and GI/M/1 case. As a practical application, RTQT is used to implement a packet admission control algorithm for a telecommunications network. Using this algorithm, packet lateness was reduced by up to 31%.