diff --git a/HACKING.rst b/HACKING.rst
index d91d4969bd..a105a66e9a 100644
--- a/HACKING.rst
+++ b/HACKING.rst
@@ -43,15 +43,14 @@ Many scripts will utilize shared functions from the ``functions`` file.  There a
 also rc files (``stackrc`` and ``openrc``) that are often included to set the primary
 configuration of the user environment::
 
-    # Use openrc + stackrc + localrc for settings
-    pushd $(cd $(dirname "$0")/.. && pwd) >/dev/null
+    # Keep track of the current devstack directory.
+    TOP_DIR=$(cd $(dirname "$0") && pwd)
 
     # Import common functions
-    source ./functions
+    source $TOP_DIR/functions
 
     # Import configuration
-    source ./openrc
-    popd >/dev/null
+    source $TOP_DIR/openrc
 
 ``stack.sh`` is a rather large monolithic script that flows through from beginning
 to end.  There is a proposal to segment it to put the OpenStack projects
@@ -119,6 +118,12 @@ These scripts are executed serially by ``exercise.sh`` in testing situations.
     # an error.  It is also useful for following allowing as the install occurs.
     set -o xtrace
 
+* Settings and configuration are stored in ``exerciserc``, which must be
+  sourced after ``openrc`` or ``stackrc``::
+
+    # Import exercise configuration
+    source $TOP_DIR/exerciserc
+
 * There are a couple of helper functions in the common ``functions`` sub-script
   that will check for non-zero exit codes and unset environment variables and
   print a message and exit the script.  These should be called after most client
diff --git a/exerciserc b/exerciserc
new file mode 100644
index 0000000000..b41714da49
--- /dev/null
+++ b/exerciserc
@@ -0,0 +1,22 @@
+#!/usr/bin/env bash
+#
+# source exerciserc
+#
+# Configure the DevStack exercise scripts
+# For best results, source this _after_ stackrc/localrc as it will set
+# values only if they are not already set.
+
+# Max time to wait while vm goes from build to active state
+export ACTIVE_TIMEOUT=${ACTIVE_TIMEOUT:-30}
+
+# Max time to wait for proper IP association and dis-association.
+export ASSOCIATE_TIMEOUT=${ASSOCIATE_TIMEOUT:-15}
+
+# Max time till the vm is bootable
+export BOOT_TIMEOUT=${BOOT_TIMEOUT:-30}
+
+# Max time from run instance command until it is running
+export RUNNING_TIMEOUT=${RUNNING_TIMEOUT:-$(($BOOT_TIMEOUT + $ACTIVE_TIMEOUT))}
+
+# Max time to wait for a vm to terminate
+export TERMINATE_TIMEOUT=${TERMINATE_TIMEOUT:-30}
diff --git a/exercises/bundle.sh b/exercises/bundle.sh
index 47bacac3ae..0f128af1e2 100755
--- a/exercises/bundle.sh
+++ b/exercises/bundle.sh
@@ -28,6 +28,9 @@ source $TOP_DIR/functions
 # Import EC2 configuration
 source $TOP_DIR/eucarc
 
+# Import exercise configuration
+source $TOP_DIR/exerciserc
+
 # Remove old certificates
 rm -f $TOP_DIR/cacert.pem
 rm -f $TOP_DIR/cert.pem
diff --git a/exercises/client-env.sh b/exercises/client-env.sh
index d4ba702e05..0f172750e8 100755
--- a/exercises/client-env.sh
+++ b/exercises/client-env.sh
@@ -22,6 +22,9 @@ source $TOP_DIR/functions
 # Import configuration
 source $TOP_DIR/openrc
 
+# Import exercise configuration
+source $TOP_DIR/exerciserc
+
 # Unset all of the known NOVA_ vars
 unset NOVA_API_KEY
 unset NOVA_ENDPOINT_NAME
diff --git a/exercises/euca.sh b/exercises/euca.sh
index 2be2f62677..703c7aacdb 100755
--- a/exercises/euca.sh
+++ b/exercises/euca.sh
@@ -28,14 +28,8 @@ source $TOP_DIR/functions
 # Import EC2 configuration
 source $TOP_DIR/eucarc
 
-# Max time to wait while vm goes from build to active state
-ACTIVE_TIMEOUT=${ACTIVE_TIMEOUT:-30}
-
-# Max time till the vm is bootable
-BOOT_TIMEOUT=${BOOT_TIMEOUT:-30}
-
-# Max time to wait for proper association and dis-association.
-ASSOCIATE_TIMEOUT=${ASSOCIATE_TIMEOUT:-15}
+# Import exercise configuration
+source $TOP_DIR/exerciserc
 
 # Instance type to create
 DEFAULT_INSTANCE_TYPE=${DEFAULT_INSTANCE_TYPE:-m1.tiny}
diff --git a/exercises/floating_ips.sh b/exercises/floating_ips.sh
index a47f1ffc23..f2b9d0362f 100755
--- a/exercises/floating_ips.sh
+++ b/exercises/floating_ips.sh
@@ -23,24 +23,18 @@ set -o xtrace
 # Settings
 # ========
 
-# Use openrc + stackrc + localrc for settings
-pushd $(cd $(dirname "$0")/.. && pwd) >/dev/null
+# Keep track of the current directory
+EXERCISE_DIR=$(cd $(dirname "$0") && pwd)
+TOP_DIR=$(cd $EXERCISE_DIR/..; pwd)
 
 # Import common functions
-source ./functions
+source $TOP_DIR/functions
 
 # Import configuration
-source ./openrc
-popd >/dev/null
+source $TOP_DIR/openrc
 
-# Max time to wait while vm goes from build to active state
-ACTIVE_TIMEOUT=${ACTIVE_TIMEOUT:-30}
-
-# Max time till the vm is bootable
-BOOT_TIMEOUT=${BOOT_TIMEOUT:-30}
-
-# Max time to wait for proper association and dis-association.
-ASSOCIATE_TIMEOUT=${ASSOCIATE_TIMEOUT:-15}
+# Import exercise configuration
+source $TOP_DIR/exerciserc
 
 # Instance type to create
 DEFAULT_INSTANCE_TYPE=${DEFAULT_INSTANCE_TYPE:-m1.tiny}
diff --git a/exercises/swift.sh b/exercises/swift.sh
index 76096379a4..b70b85f268 100755
--- a/exercises/swift.sh
+++ b/exercises/swift.sh
@@ -18,15 +18,18 @@ set -o xtrace
 # Settings
 # ========
 
-# Use openrc + stackrc + localrc for settings
-pushd $(cd $(dirname "$0")/.. && pwd) >/dev/null
+# Keep track of the current directory
+EXERCISE_DIR=$(cd $(dirname "$0") && pwd)
+TOP_DIR=$(cd $EXERCISE_DIR/..; pwd)
 
 # Import common functions
-source ./functions
+source $TOP_DIR/functions
 
 # Import configuration
-source ./openrc
-popd >/dev/null
+source $TOP_DIR/openrc
+
+# Import exercise configuration
+source $TOP_DIR/exerciserc
 
 # Container name
 CONTAINER=ex-swift
diff --git a/exercises/volumes.sh b/exercises/volumes.sh
index a812401a09..77c3498c0c 100755
--- a/exercises/volumes.sh
+++ b/exercises/volumes.sh
@@ -18,24 +18,18 @@ set -o xtrace
 # Settings
 # ========
 
-# Use openrc + stackrc + localrc for settings
-pushd $(cd $(dirname "$0")/.. && pwd) >/dev/null
+# Keep track of the current directory
+EXERCISE_DIR=$(cd $(dirname "$0") && pwd)
+TOP_DIR=$(cd $EXERCISE_DIR/..; pwd)
 
 # Import common functions
-source ./functions
+source $TOP_DIR/functions
 
 # Import configuration
-source ./openrc
-popd >/dev/null
+source $TOP_DIR/openrc
 
-# Max time to wait while vm goes from build to active state
-ACTIVE_TIMEOUT=${ACTIVE_TIMEOUT:-30}
-
-# Max time till the vm is bootable
-BOOT_TIMEOUT=${BOOT_TIMEOUT:-30}
-
-# Max time to wait for proper association and dis-association.
-ASSOCIATE_TIMEOUT=${ASSOCIATE_TIMEOUT:-15}
+# Import exercise configuration
+source $TOP_DIR/exerciserc
 
 # Instance type to create
 DEFAULT_INSTANCE_TYPE=${DEFAULT_INSTANCE_TYPE:-m1.tiny}
diff --git a/openrc b/openrc
index 188ffc56d4..7aefb0ffd3 100644
--- a/openrc
+++ b/openrc
@@ -65,18 +65,3 @@ export COMPUTE_API_VERSION=${COMPUTE_API_VERSION:-$NOVA_VERSION}
 # set log level to DEBUG (helps debug issues)
 # export KEYSTONECLIENT_DEBUG=1
 # export NOVACLIENT_DEBUG=1
-
-# Max time till the vm is bootable
-export BOOT_TIMEOUT=${BOOT_TIMEOUT:-30}
-
-# Max time to wait while vm goes from build to active state
-export ACTIVE_TIMEOUT=${ACTIVE_TIMEOUT:-30}
-
-# Max time from run instance command until it is running
-export RUNNING_TIMEOUT=${RUNNING_TIMEOUT:-$(($BOOT_TIMEOUT + $ACTIVE_TIMEOUT))}
-
-# Max time to wait for proper IP association and dis-association.
-export ASSOCIATE_TIMEOUT=${ASSOCIATE_TIMEOUT:-15}
-
-# Max time to wait for a vm to terminate
-export TERMINATE_TIMEOUT=${TERMINATE_TIMEOUT:-30}