No it is not, we don't even understand what causes quantum waves to collapse. We call it "observation" but we don't know what that is. So you can't say we understand quantum mechanics until we have a theory which can accurately predict when wavefunctions will collapse.
When two quantum systems interact their wave functions either gets entangled with each other or they cause each other to collapse, it seems like the first happens in small systems and the second happens in large systems, we don't know much more than that.