For creating a Graal VM JDK, the file jre\lib\jvm.cfg has to be modified such that it includes the line:
-graal KNOWN

Before running the Graal VM, the following environment variables is needed:
- MAXINE: Pointing to a Maxine VM repository with compiled Java files.

In particular, the VM will look for the compiled Java files in the following directories:
${MAXINE}/com.oracle.max.cri/bin
${MAXINE}/com.oracle.max.base/bin
${MAXINE}/com.oracle.max.asmdis/bin
${MAXINE}/com.oracle.max.asm/bin
${MAXINE}/com.oracle.max.graal.graph/bin
${MAXINE}/com.oracle.max.graal.compiler/bin
${MAXINE}/com.oracle.max.graal.nodes/bin
${MAXINE}/com.oracle.max.graal.extensions/bin
${MAXINE}/com.oracle.max.graal.runtime/bin
${MAXINE}/com.oracle.max.graal.graphviz/bin

For starting the Graal VM, the flag "-graal" has to be specified. Additional flags that might be useful:
-G:Plot Sends the graphs of compiled methods via network stream to the IdealGraphVisualizer (NetBeans project at ${GRAAL}/src/share/tools/IdealGraphVisualizer that can be built and run with NetBeans 7.0, use "Graal Coloring" and "Graal Edge Coloring" filters)
-G:Time Prints timings for the different compilation phases
-G:Meter Prints metrics for the different compilation phases

The usual HotSpot flags -Xcomp -XX:CompileOnly= -XX:CompileCommand= or -XX:+PrintCompilation can be used to control the compiled methods.