iControl is a multi-purpose timer app that can carry out many actions. As its name suggests, it lets you control when your Mac will shutdown, restart, log out, sleep, or when it shouldn't sleep. It also can alert you at a specific time, run an AppleScript, turn iTunes on or off and even run an application.
For each of the aforementioned actions, you can either start a timer or set an exact time for them to be carried out. In other words, if you want iControl to shut your Mac down, you can either tell it to do it in 15 minutes or at 9:30 AM.
The application's main window consists of a list of all the available actions. You can simply click on one of them to get started setting the parameters of the action. For some of them, you should enter additional information, like alert text, application to run, etc. When an action has been activated, the time information will show on top of the main window. So, if you wanted the application to turn iTunes off in one minute, you will then see a timer running down from 1 minute, and the exact time at which the action will take place.
During my testing of iControl, everything worked as expected. I tested the shutdown, and iTunes actions and I didn't run into any problems.