I have only started using Time Out with my son, and he's four. And we try not to use it too often, but to reserve it for safety issues or repeat not-listening situations, where it's clear he needs a break to figure it out.
Before that, it was usually distraction and redirection or offering either/or choices I could live with. Sometimes, this meant getting buckled into a high chair or stroller because my little guy was doing dangerous things and I could not leave the area I was working in. For example, when he liked to climb on the table when I was making dinner, he had the choice of keeping his feet on the floor or sitting at the table with something to do, buckled in. If he ran toward the street while I was gardening, it was a clear "stay in the yard or you sit in the stroller". I let his actions guide my decision on what would help us best.
At fifteen months, I strongly suggest adjusting the environment (babyproof) to limit "no"s. Then, sometimes you can move your daughter along to a safe place to play, a safer activity. I would try not to do this in a manner of punishment, but a manner of teaching. You are teaching her which things are for her, which actions mean that she might be restrained or removed. For example, when little ones bite, I suggest telling them "no biting", setting them on the floor, and walking away for a minute or two. In that case, less attention = a better message.
Another idea is introducing appropriate toys for her to use. When she throws a truck, take the truck away and offer her a soft ball instead. "Here, you can throw this". (I once watched a parent tell a child several times not to throw a hard toy and then hand it back to him, and of course he threw it again. Do not give the first item back, just offer the substitute.)
So often, too, parents get upset, make a fuss, yell or talk and talk and talk. Less talk, simple phrases, and direct follow-through is more effective. Be sure, too, that the people around her are doing their part. If big brother is mad that sister is knocking down his activity, perhaps he can work at a table or in his room, or wait to use the floor when sister is napping.
And it may take a lot of repeated reinforcement before the child learns which things are allowed/not allowed.
Great question, J.!