The paper describes an e-Course development process based on the software engineering model “System assembly from reusable components” principles. The main stages of the process are outlined in details: 1) e-Course scenario development, which includes exploring of reusable LO repository and making a list of proper LOs; 2) chosen reusable LOs adaptation to the needs of an e-Course being developed considering the structure of available LO (LOM) and the one of the e-Course; 3) if there is a need – development of new LOs, providing the different kinds (LO-information and LO-task) and types (multiple choice, word, sentence, etc.); 4) newly developed and adapted LOs integration to an e-Course; 5) defining of evaluation algorithm and adaptivity level (or dialogue scenario); 6) e-Course testing by a tutor/developer and students. The advantages and disadvantages of this approach are shown.