I had to find the damn chuck key first, to change the drill bit out, to let me drill the hole in the chuck key, so I could attach the chuck key to the lanyard holder, so I wouldn't lose the chuck key again... All in, it was a 20 minute search for a 30 second operation but that says more about me than it does about the project...
Honestly brilliant for a couple of reasons. Obviously keeps you from losing the chuck, but also prevents you from making an oopsie if you're easily distracted and leave the key in like I've seen people do on multiple occasions.