Within their mental and social processes, humans often learn, adapt and apply specific mental models of processes in the world or other persons, as a kind of blueprints. In this paper, it is discussed how analysis of this provides useful inspiration for the development of new computational approaches from a Machine Learning and Network-Oriented Modeling perspective. Three main elements are: applying the mental model by internal simulation, developing and revising a mental model by some form of adaptation, and exerting control over this adaptation in a context-sensitive manner. This concept of controlled adaptation relates to the Plasticity Versus Stability Conundrum from neuroscience. The presented analysis has led to a three-level computational architecture for controlled adaptation. It is discussed and illustrated by examples of applications how this three-level computational architecture can be specified based on a self-modeling network and used to model controlled learning and adaptation processes based on mental models in a context-sensitive manner.