More compact
<?php
$update[15]=1;
$update[30]=1;
$update[45]=1;
$update[60]=1;
if (isset($update[date(i, time())])) {
// query to run .. or tasks
}
?>
You can allways do a modulus operation on 15, on remainder 0 you have a winner. With that you can ditch the update variable and the isset call.
<?php
if ((date(i, time())%15)==0) {
// query to run .. or tasks
}
?>
Which is even more compact.