Check the collaboration job's information in theJob Details tab, which is the same as described in view collaboration jobs with few extra fields:
Process Immediate indicates how this collaboration job is processed by a scheduled job: true - the collaboration job is processed right after it is created at the end of the submission, false - it's queued for a scheduled job.
Last Processed Time shows the time the collaboration job was last processed.
Select a new collaboration job status from the Status dropdown list, which can be In Progress, Paused, Cancelled.
You should understand statuses and transitions between them, as some transitions are irreversible. If you change the status from In Progress to Cancelled, you can't undo it. However, if you change the status from In Progress to Paused, you can change it back to In Progress.
Click Save to update the changes. It saves the updated status only.