Piezoelectric inkjet technology has been widely adopted in various industrial applications due to its versatility and compatibility with a wide range of ink chemistries. The driving signal, pivotal in activating the piezoelectric element to expel droplets, significantly influences droplet formation dynamics. Parameters such as droplet size, velocity, breakup time, and the occurrence of satellite droplets are all influenced by the driving signal and ultimately affect the overall quality of the printing process. This paper introduces a model for drop-on-demand (DOD) droplet formation dynamics from a single nozzle employing a bipolar driving signal. The model establishes a quantitative correlation between the waveform of the driving signal and key parameters including average jetting velocity at the nozzle exit, droplet jetting frequency, and droplet volume. Furthermore, an experimental setup is developed for the calibration and validation of the proposed model. Results demonstrate a close alignment between the model predictions and experimental observations, affirming its efficacy in forecasting droplet formation behaviors based on driving signal parameters.