Dawes was dropped last week, which left first-year forward Jackson Paine to team with Travis Cloke in attack and captain Nick Maxwell to act as an undersized back-up ruckman to Darren Jolly.
Midfield coach Robert Harvey said the Pies would watch Dawes train on Thursday afternoon and make a decision before teams are released on Thursday evening.
"We've obviously had a lot of discussion this week about that selection," Harvey said.
"It's a 50-50 call. It's really tight.
Recap collingwoodfc.com.au's coverage of Thursday's training session.
"We'll continue [those discussions] this afternoon. It's a really big call in a big game so we want to make sure we get it right.
"We want to see how they get through the session today.
"We thought Jackson Paine played his role really well last week with what he did but it will come down to match committee this afternoon and what we decide."
Dawes completed the session and appeared in good spirits as he worked with Cloke and Paine, with the three of them finishing off with some contested marking work.
The Pies gave little away with just one ruck duel between Jolly and Dawes during the light hit-out.
Harvey said the Pies had options to try and combat big Hawk duo David Hale and Jarryd Roughead, and would not be influenced by the potentially wet weather forecast for Friday night.
"We've talked about both scenarios so we'll sort that out this afternoon," he said.
"We're happy with how it went [last week]. Obviously Travis stepped up and played really well but overall as a team we moved the ball a lot better last week and we take confidence in that this week against a really good side.
"Again, it's going to be high pressure, a lot of contested ball. You're not going to have chances to move the ball every time you'd like.
"It's about the contest and how many contests we do get during the game.
"We weren't unhappy with how the second ruck went last week. In statistical terms, it was fine for us.
"Chris' second ruck work has improved during the year so we're happy enough with that. We feel we're comfortable enough with that situation."
Harvey said both Dawes and Paine, who has played just six senior games, were preparing as if they were playing.
He also said it wasn't as simple to consider a fit and in-form Dawes as a requirement for their premiership aspirations.
"We're at a stage now we're playing teams that are that good, no team could leave out one player and think they won't win," he said.
"You need every player standing up and playing well, and there's not one player you need in your team to win on the day.
"It's going to be a contest and it's going to be really physical."
Tyson Goldsack missed Thursday's session, but Harvey said he still had time to prove his fitness after he hurt his ankle on Saturday night against Essendon.
Jarryd Blair is fit and trained after missing last week with a groin but is no certainty to play while Dale Thomas - who didn't train earlier in the week - appeared unhindered.
The team from last week, minus Goldsack, trained, plus the emergencies from the Bombers' game - Paul Seedsman, Josh Thomas and Ben Sinclair.
