I agree that this is a better way to do the timing.
However, if you read his original requirement, he wants to vary the delay from 0 to 60 minutes.
So the oscillator driving the CD4541 would have to be variable from 18.2 Hz to at least 18.2 * 120 = 2.2 kHz thus giving a delay from about 30 sec to 60 min.
Also, in a PM he told me that he wants the relay to be operated during the delay and release at the end. So the simplest way I can think of the do this is to halve the osc frequency (ie. make it 9.1 Hz to 1.1 kHz) and drive the relay from the last stage.
That is, the relay is operated while the counter output is low and releases when it goes high.