This paper aims to quantitatively analyze the relationship between forces acting on the tool tip and tool movement during drilling operations. The study encompasses axial and lateral vibrations superimposed on the nominal tool movement, arising from rigid body motion (rotational and axial velocities). Specifically, only forces attributed to the cutting process are considered, excluding considerations of indentation forces around the chisel edge. The research adopts a generalized approach, spanning from tool measurements to establishing the force model. The investigation involves measuring cutting forces and correlating them with the varying rake and inclination angles of the drill’s cutting edges. An analytical model is proposed to describe the distribution of all local force components along drill edges, considering the evolution of forces and geometry. The dynamic coefficient matrix is evaluated by using the identified cutting coefficient and tool geometry. Validation of the proposed methodology is demonstrated through drilling experiments on Ti6Al4V alloy, utilizing three solid carbide drills with distinct geometries. The proposed procedure allows complete identification of the dynamic characteristics from the measurements taken at the entrance stage of hole drilling operation. Moreover, the influence of tool geometry on cutting coefficients and dynamic coefficient matrices are discussed.