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Building a dynamic performance evaluation model is an important part in the management of collaborative manufacturing process. By analyzing the current evaluating method, this paper firstly put forward the mathematical model of dynamic performance evaluation of collaborative knowledge chain, and built a performance evaluation indices model. Then, the weight factors of performance evaluation model were calculated by using Delphi method. Thirdly, performance values of each knowledge unit and collaborative knowledge chain were calculated, and accordingly figures for performance values can be built. Finally, a case study was carried out.