This paper analyzes the benefits, financial implications, and potential drawbacks of the oil industry's holding response exercises and drills. The paper gives guidelines on how to maximize the investment in both financial terms and personal effort. In addition, drivers, objectives, and who should do what are discussed. We provide personal experience to show the reader how to avoid problems and overcome issues in development and management of drills internationally. The paper looks at what is expected in different parts of the world and what really is required for best industry and government preparedness. Changing trends of expectations, requirements, and what really works worldwide are also explored. The scope of industry operations covered in the paper is upstream E&P activities and transportation. Also covered are the effectiveness of the numbers of people involved; innovative use of exercise input; and some low-cost, but effective, options. Pitfalls that could devalue the drill are also discussed, including such problems as industry and governments not being equally skilled in such issues as response management and the ability to draw on appropriate resources. In certain cases, these problems can defeat the initial objectives of holding the drill. Guidance is also given on how to decide which organizations should be involved in the development and planning phases of the exercise and when they should be involved. Finally, opinions are given on why industry carries out drills, what the benefits should be, whether it is worthwhile, and how well it should be done.