We describe a novel framework for modeling and analysis of dynamic networked systems that utilizes several interacting dynamic hypergraphs. The simplest of the new class of models utilizes two hypergraphs: the collaboration one and the communication one. The collaboration hypergraph describes the time varying relation of collaboration between the agents. That is it answers the question: who has to collaborate with whom, when and for what. The communication hypergraph describes the time varying communications that occur between the agents. That is it answers the question: who has to communicate with whom, when and what. We describe a novel path-oriented characterization of these activities in networked dynamic systems. The new framework allows us to pose several problems as generalized information flows and their control. We relate the new framework and its basic constructs to information and control patterns, generalized information theory and entropy, and to distributed computing with local states. The new framework indicates the need for a new kind of probability over dynamical logical structures that is reminiscent of the axiomatic framework of quantum physics.