Collaborative Product Development (CPD) is an advanced paradigm for product development, which focuses on facilitating the business collaboration across organizational boundaries. The process of CPD is highly dynamic, and needs to be implemented jointly by participant organizations. Firstly, this paper analyzes some traditional workflow modeling methods, and reviews related research work on workflow modeling for CPD. Secondly, a process-view and Petri nets combined approach is highlighted. At last, a novel process management framework is proposed, which provides an effective and universal way to manage the dynamic and distributed process of CPD.