Run command after a certain length of time has elapsed?

If I'm executing a long process, is there any way I can execute some time-based commands? For example, I'm running a really long process which runs for roughly 10 minutes. After 5 minutes, I would like to run a separate command. For illustration, the separate command could be: echo 5 minutes complete (Note: I don't want progress toward completion of the command, but simply commands executed after specified intervals.) Is it possible?