Active Queue Management and Packet Scheduling (AQM)
or
Smarter Queue Management (SQM) (suggested by Dave Taht)

  Internet routers, lower-layer switches, other middleboxes include
  buffers or queues to hold packets when they are not immediately
  able to be forwarded to the next hop.

  The queues are intended to absorb bursts of traffic that may
  naturally occur, and avoid unneccessary losses.  However, queues
  also cause latency and jitter in the eventual arrival times of
  packets.  This can create issues and complications for interactive
  applications.

  Extremely large buffers have been noticed in some software and
  equipment.  When these queues fill, interactive applications and
  other traffic can be severely impacted or completely broken, due
  to high and potentially oscillating delays.
  
  The Active Queue Management and Packet Scheduling working group
  (AQM) works on algorithms for proactively managing queues in
  order to:

  (1) help flow sources control their sending rates before the
  onset of necessary losses, e.g. through ECN

  (2) help minimize delays for interactive applications

  (3) help protect flows from negative impacts of other more
  aggressive or misbehaving flows

  The AQM working group will publish Informational and Best Current
  Practices documents that cover the design, use, and configuration
  of algorithms for managing queues in Internet devices and software.

  The AQM working group will also publish algorithm specifications
  that are found to be broadly applicable and beneficial.  Evaluating
  these algorithms shall be done in coordination with the Internet
  Congestion Control Research Group (ICCRG) in order to select and
  assess the relevant criteria, scenarios, and metrics.

  AQM algorithms do not have to be implemented universally in order
  to be effective.  Specifications will aid in producing proper
  implementations that avoid potential ambiguities and corner cases.
  "Interoperability" of algorithms and implementations of them is
  not the reason for creating these specifications; correctness is
  the primary motivation.
  
  The working group will not make changes to ECN, DiffServ, or other
  IETF protocols, though existing ECN, DiffServ, and other mechanisms
  may be used within the algorithms proposed.

  Many AQM algorithms have been proposed in academic literature, but
  very few are widely implemented and deployed.  The goal of the working
  group is to produce recommendations that will actually be used, and
  algorithms that will actually be implemented, deployed in equipment,
  and enabled.  Towards these ends, the group actively encourages
  participation from operators and implementers, and will coordinate
  with the IETF OPS area and other relevant parts of the IETF and
  Internet community.  Wider research and evaluation of AQM mechanisms
  shall be coordinated with the IRTF/ICCRG, and significant
  participation in this WG from the academic and research community is
  highly desirable, when it is directly relevant to implementation and
  deployment.
  

  Goals and Milestones

  January 2014  Submit AQM recommendations to IESG for publication as BCP obsoleting RFC 2309
  July 2014     Submit AQM evaluation guidelines to IESG for publication as Informational
  December 2014 Submit first algorithm specification to IESG for publication as Proposed Standard


  Relevant documents:

  Recommendations
  ---------------
  http://tools.ietf.org/html/draft-baker-aqm-recommendation
  
  Algorithms Potentially for Consideration
  ----------------------------------------
  PIE: http://tools.ietf.org/html/draft-pan-tsvwg-pie
  CoDel: http://tools.ietf.org/html/draft-nichols-tsvwg-codel
  FavorQueue: http://arxiv.org/pdf/1103.2303v2.pdf