At present time grinding operations for rolling mills rolls, providing the final quality parameters, are the most labour-intensive ones. It is caused first of all via their complex stochastic nature, which leads to a spread of quality indicators, lowering of reliability, productivity and efficiency of technological process. Development of the dynamic process models which can adequately describe the changes occurring in the technological system is considered as one of the ways for solving these problems. The models allowing to assess the influence of random components of the tool profile deviations as factors disturbing the grinding process dynamics are presented in the article. This assessment makes it possible to select the dynamic system parameters (such as mass, damping and stiffness) in order to ensure the maximal possible tool life, the permissible spread of the product quality parameters, as well as the maximal efficiency and productivity of the operation.