Mainframe Scheduling software like Control-M from BMC is one, ASG has Zeke, CA7 from CA and IBM TWS for ZOS formerly OPCA can be used to schedule a job every 15 minutes.
You could add a job for every 15 minute period or have the first step of the job be to add the 1 that will run in the next 15 minutes.
Pros
Operators will be notified of the job failing
Cons
Will end up allot of the same jobs in the schedule
TWS for ZOS (what I am know) you would need to add nearly 96 jobs and set the corresponding times for it
The option I would recommend is using an automation product such System Automation from IBM, Control-O from BMC or OPS from CA.
With any of the above automation products you could setup a started task and get them to start it every 15 minutes. It is much easier say for example using 1 panel in System Automation to set it up to run a start task every 15 minutes
If you wanted to know if it fails you could use the automation products to schedule it in any of the above schedulers.