For static magnetic properties of the Co/Ni bilayers, macroscopic hysteresis loops and microscopic magnetic moment distributions have been determined by the object oriented micromagnetic framework (OOMMF). It is found that when the bilayer systems are fully decoupled, the magnetizations of the two phases reverse separately. The coercivity of the bilayers decreases to a valley value sharply with increasing interfacial exchange coupling and then rises slowly to a platform. On the other hand, we have carried out an atomistic simulation for the laser-induced ultrafast demagnetization of the Co/Ni bilayer. A larger damping constant leads to a faster demagnetization as well as a larger degree of demagnetization, which is consistent with the first-principle theoretical results. For the magnetization recovery process, the damping constant has different influences on the recovery time with various peak electron temperatures, which is ignored in previous atomistic simulations as well as the Landau-Liftshit-Bloch (LLB) micromagnetic calculations. Furthermore, as the interfacial exchange coupling increases, the ultrafast demagnetization curves for Co and Ni become coincident, which is a demonstration for the transition from two-phase phenomenon to single-phase phenomenon.