Collaborative product development (CPD) is a vital strategy adopted by many manufacturing firms for higher competitiveness. Efficient processing of information via information and communication technology (ICT) tools is essential for practicing CPD. Uncovering the impact of ICT usage on performance of CPD projects with varying characteristics will provide valuable insights to CPD practitioners. So far, the practical relevance and appropriateness of criteria used in previous research models evaluating the ICT impact have not been sufficiently confirmed. This study develops a research model based on relational resource-based view and organizational information processing theory to evaluate the impact of ICT usage on CPD performance. The study qualitatively examines this model, using data collected through interviews from manufacturing and ICT vendor firms for assessing various ICT usage dimensions, project characteristics representing information processing requirement, and CPD performance outcomes. The results support the concepts and relationships conceptualized in the model while identifying project complexity as the project characteristic that predominantly represents the information processing requirement of a CPD project. The findings offer valuable insights to practitioners with significant theoretical implications for future studies addressing the role of ICT in CPD.