In this paper we propose an adaptive approach to managing the development of students' knowledge in the comprehensive project-based learning (PBL) environment. Subject study is realized by two-stage PBL. It shapes adaptive knowledge management (KM) process and promotes the correct balance between personalized and collaborative learning. The six-step approach comprises planning the development of students' knowledge providing the needed instructional materials; KM of students by teaching a subject in the PBL environment leading to acquiring subject knowledge while work on a sample-project every student of a study group; sustaining adaptive self-formation of knowledge heterogeneous collaborative groups through sharing accountability among students for results of performing project tasks; guiding collaborative performance of group projects aimed at setting adaptive assessments of knowledge for collaborative groups and individual students based on the current state of knowledge, dynamic choice of control tests for individual students and projects of suitable complexity for collaborative groups, and adjustment of an instructor's control questions to complexity levels of projects performed by groups; assessing the knowledge gained by each student after completion of a group project by the control tests of different complexity; and evaluating knowledge dynamics of students through the proposed coefficient of knowledge development.
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