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Excel Object Model: Application.onTime

Application.onTime can be used to schedule the execution of a procedure.
Apparently, it's not a trivial task to pass parameters to a scheduled execution.
Run a procedure at 5 PM: 
application.onTime timeValue("17:00:00"), "someProcedure"
In order to schedule the execution after a given amount of time (as opposed to fix point in time), the following construct can be used: 
application.onTime now + timeValue("00:01:00"), "someProcedure"

See also

application.wait and application.run.
The application object.
notif.ps1 is a PowerShell script that opens a message box with a given text at a given relative or absolute time in the future.

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