Spain experiences drought as a natural and recurrent phenomenon. Climate change models foresee an escalation in the frequency and intensity of this risk in the coming years. There is an imperative need to shift the drought management strategies from a crisis-management approach to a proactive risk management paradigm, incorporating anticipation, prevention, and mitigation measures. Significant progress has been accomplished in this domain. Primarily by implementing compulsory drought plans at both the river basin district and urban supply system levels. Despite these efforts, the current water management model tends to exert additional pressure on water resources, thereby augmenting the vulnerability of these systems to withstand prolonged drought periods. This chapter critically examines drought management tools and asses the progress made thus far. Nonetheless, it also addresses the persisting challenges that require attention to establish an effective and preventive drought management approach.