computerized asset management system

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TITLE PAGE

COMPUTERIZED ASSET MANAGEMENTSYSTEM

(A Generic Case Study)

BY

DEPARTMENT OF COMPUTER SCIENCE

IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD

OF NATIONAL DIPLOMA IN COMPUTER SCIENCE

AUGUST 2008

CERTIFICATION

This is to certify that this project being an original work was

undertaken by

--------------------------------------- ----------------------------

Project Supervisor Date

--------------------------------------- -----------------------------

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Director of Studies Date

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DEDICATION

This project work is dedicated to the God Almighty; the giver of life,

strength, wisdom and every good gifts who has seen us through the

challenges of making this work a reality.

.

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AKNOWLEDGEMENT

There are many individuals who contributed to the production of this

project work through their moral and technical support, advice or

participation.

Finally, we would like to thank our families and friends for their

understanding, encouragement, and support over the completion

and fulfillment of our project work.

ABSTRACT

The record keeping routines, information tracking, complicated

logistics and many other administrative procedures are all regular

activities that constantly make up the core processes in the

management of real and financial assets. However these processes

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could be quite cumbersome and inefficient when manual systems

being used continue to play prominent roles in organizations that

offer such services.

Basically, with the advent of Information Technology (IT), some

organizations, government agencies, individuals etc. have employed

various database management software including relational

database and spreadsheet software for the management of assets.

However, these application software are generic; hence there is

need to design a system that is tailored to specific need of asset

management.

Consequently, this project work finds it necessary to study and

analyze the difficulties inherent in the administration and

management of asset manually in organizations with a view to

proposing an extensive solution to these problems.

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TABLE OF CONTENTS

CONTENTS Pages

TITLE PAGE- - - - - - - i

CERTIFICATION - - - - - - ii

DEDICATION - - - - - - iii

ACKNOWLEDGEMENT - - - - - iv

ABSTRACT - - - - - - - v

TABLE OF CONTENTS - - - - - VI

CHAPTER ONE

NTRODUCTION - - - - - - 1

DEFINITION OF TERMS - - - - - 2

PROBLEM STATEMENT - - - - - 3

OBJECTIVES OF THE STUDY - - - - 4

SCOPE OF PROJECT - - - - - 4

SIGNIFICANCE OF THE STUDY - - - - 5

LIMITATIONS & CONSTRAINTS OF THE ROJECT - 6

CHAPTER TWO - LITERATURE REVIEW

ASSETS - - - - - - - 7

ASSET MANAGEMENT - - - - - 9

COMPUTERIZATION - - - - - 10

PROBLEMS INHERENT IN THE EXISTING SYSTEM- 12

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CHAPTER THREE - SYSTEM ANALYSIS AND DESIGN

SYSTEM ANALYSIS - - - - 13

SYSTEM DESIGN - - - - - - 14

SPECIFICATION REQUIREMENT - - - 14

SYSTEM ARCHITECTURE - - - - 19

CHAPTER FOUR IMPLEMENTATION

LANGUAGE OF IMPLEMENTATION - - - 21

CODING - - - - - - - 22

SYSTEM REQUIREMENTS - - - - 22

THE INTERFACE OF THE NEW SYSTEM - - 24

UPDATE AND MAINTENANCE OF SYSTEM - - 25

CHAPTER FIVE SUMMARY CONCLUSION AND

RECOMENDATION

SUMMARY - - - - - - - 26

CONCLUSION - - - - - - 26

RECOMMENDATION - - - - - 27

APPENDIX 1 PROGRAM CODE - - - 28

APPENDIX 2 PROGRAM FLOWCHART - - 32

APPENDIX 3 GUIDELINES FOR DBASE DESIGN - 33

APPENDIX 4 DIAGRAM OF ASSET MAGT SYSTEM- 34

APPENDIX 5SCREENSHOT OF INTERFACE - - 35

REFERENCES - - - - - - 38

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CHAPTER ONE

INTRODUCTION

Asset intensive industries face the harsh realities of

operating in highly competitive markets and dealing with

high value facilities and equipment where each failure is

disruptive and costly. At the same time, they must also

adhere to stringent occupational safety, health andenvironmental regulations. Maintaining optimal availability

reliability and operational safety of plant, equipment,

facilities and other assets is therefore essential for an

organizational competitiveness.

The function of asset management are taking a

fundamental turn where organizations are moving from

historical reactive (run-to-failure) models and beginning to

embrace whole life planning, life cycle costing, planned

and proactive maintenance and other industry best

practices. Asset Management is not operational excellence

but instead focused on effectiveness; bring out the most

of every capital investment or expense from a planning

perspective. It has a long-term view, strives for balanced

investment-risk-performance levels and supports data

driven decision-making required for all discretionary

spending. However, some companies still regard manual

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asset management procedure, despite the evolution of

information technology, which cannot meet up the above

challenges; hence the objective of this project work is to

present a conceptual and practical approach for the

management of asset using a computer program. This is

necessary due to the accuracy, efficiency and reliability of

computer in performing rigorous tasks such as

manipulation and querying of large volume of data which

is relevant in managing asset.

1.1 Definition of Terms

The major variables in this work are Asset, Management,

Computerization and System. The definitions of these

variables are given below:

1.1.1 Asset this could be defined as a

person or thing that is valuable or useful to

something. Banking and Finance defines asset as a

thing which belongs to a company or person which

has value.

1.1.2 Management this could be defined

as the act of running and controlling a business or

similar organization.

1.1.3 Computerization this word is derived from

the word computerized, which means to provide a

computer or computers to do the work of something.

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Documents occupy a lot of space that could be put

into other profitable use.

1.3 Objectives of the Study

The objectives of the study are:

To eliminate the error associated with the existing

system.

To provide more reliable storage and retrieval of

asset record through the use of computer.

To increase information availability and

accessibility.

To enable asset managers easily estimate asset

net-worth through the use of inbuilt computerized

logic on asset models.

1.4 Scope of the Project

The scope of this study covers the following:

Basic procedures and process associated with

record keeping

Availability of interactive and easy to use

Graphical User Interface (GUI) with vital

components in form format, which enable users to

enter information about financial assets and fixed

assets.

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The application includes tools that allow users to

estimate the net-worth of a particular asset.

1.5 Significance of the Study

The significance of computerization of asset management

system includes the following:

Speed computers operate at a very high speed

that enables users to enter, store data and retrieveinformation within a very short time.

Storage Computer has a very high storage

capacity; be it internal or external storage media,

which is a vital aspect of asset management.

Accuracy the high degree of accuracy exhibited

by computer is of essence in record keeping and

accounting procedures in asset management.

Efficiency the efficiency of computers can

improve the overall efficiency of organization.

Reduction of Complexity the complexities in

record keeping and computation of asset values

can be drastically reduced by the application of

some statistical tools embedded in computer

systems.

Security computerized system offers better

security facilities, which is needed in asset

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Time considering the originality of this project,

more time would have been required for an

extensive work.

Insufficient information Some organizations

relevant to this research work could not release

some vital information for fear of compromising

the integrity of their management procedures.

CHAPTER TWO

LITERATURE REVIEW

This chapter reviews some literatures related to this

project with the aim of designing a computerized system

that would be replaced with the popular manual asset

management system, which is tedious, cumbersome and

time consuming to manage. Consequently, there is need

to understand what assets are, the different types of

assets and the kind of information about assets that are

needed in order to ensure effective management of assets

records.

2.1 What are Assets?

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In this context the definition of asset is very broad.

Anything that is used by an organization in order for it to

achieve its function can be considered and asset of the

organization. This will include a number of different types

of assets and are classified based their characteristics.

Some types of assets are listed below:

Fixed Assets these are assets that could last as

long as the company or organization exists. They

include office furniture, vehicles, etc.

Liquid Assets liquid assets include cash or bills

that can easily be converted to cash.

Financial Assets these include investment and

cash at hand. These kinds of assets could also be

seen as claim against the income or wealth of

business organization; usually represented by a

certificate or legal documents, which include

bonds, insurance policies, stocks, deposits etc.

However, considering the importance of financial

assets in this project, it is necessary to consider

some of its characteristics and categories.

Characteristics of Financial Assets

Financial assets cannot be depreciated

They do not provide continuous stream of service

to their owners

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efficient and effective delivery of community benefits. The

emphasis is on the assets being a means to an end, not

an end in themselves.

Asset management refers to the professional

management of investments such as stocks and bonds,

along with real estate. Typically, asset management is

only practiced by the very wealthy, as the services of a

professional firm can demand considerable sums of

money, and successful asset management usually

requires a large and diverse portfolio.

2.3 What is Computerization?

This is concern with provision of computer or computers to

do the work of something. Computerization could bedefined as the technological application of electrical and

computer based systems to supplement the operations

and control the activities of an organization. This

technological application could include computer process

control, feedback control, planning, data collection and

decision making support facilities. Computerization aids in

automation of processes that usually required tedious

manual inputs and outputs.

In the light of these broad definitions Computerized

Asset Management System could be seen as

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professional management of investments such as

stocks and bonds, along with real estate by means

of technological application of electrical and

computer based systems to supplement the

operations and control the activities of an

organization.

Asset management can be relatively tedious and is error

prone when using the manual system that is associated

with rendering such services. However, with the use of

computers, this can be easily done in record time and

faster than the manual process.

In relation to the above mentioned facts, this work(Computerized Asset Management System) seeks to

highlight the problems associated with the existing

manual system with a view to making necessary

recommendations that seek to eliminate the indices

inherent problems thereby presenting the computerized

system as a preferred solution.

2.4 Problems Inherent in the Existing Manual

System

The following are the lapses in the existing manual

system:

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Inaccurate data entry and mix-up of records

Unavailability of accurate data-bank of records

since paper is a bio-degradable material they tend

to spoil with time

Ineffective security of documents

Long process on retrieval of record due to large

volume of paper stored

Delay in accounting and auditing proceedings due

to tedious process involved in record retrieval

Documents occupy a lot of space that could be put

into other profitable use.

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CHAPTER THREE

SYSTEM ANALYSIS AND DESIGN

Systems are created to solve problems. In this dynamic

world, the subject of System Analysis and Design mainly

deals with software development activities.

The process of building a software system, from analysis

to implementation is generally referred to as SoftwareProject Development Life Cycle. The various aspects of the

Software Project Development Life Cycle concerned with

this project are enumerated below:

3.1 System Analysis

Analysis involved a detailed study of the current system,

leading to specifications of a new system. It is also a

detailed study of various operations performed by a

system and their relationships within and outside the

system.

3.1.1 System Study. System study is the first

stage of system development life cycle. This gives a clear

picture of what actually the physical system is. This study

is usually done in two phases. In the first phase, the

preliminary survey of the system is done which helps in

identifying the scope of the system. The second phase is

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more detailed and in-depth study in which the

identification of users requirement and the limitations and

problems of the present system are studied. It also

involves checking existing system by carefully analyzing

the process involved, in this case manual method of asset

management.

Hence, problems noticed in the existing system prompted

us to consider a better solution to the current method of

manual processing.

3.1.2 Feasibility Study. On the basis of result

of the initial study, feasibility study takes place. The

feasibility study is basically the test of the proposed

system in the light of its workability, meeting users

requirements, effective use of resources and of course the

cost effectiveness.

3.2 System Design

Based on the user requirements and the detailed analysis

of a new system, the new system must be designed. In the

design of the proposed system, the following specific

requirements are considered.

3.3 Specification Requirement

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Input Specification - Considering the proposed system

various input are required by the user such as Username,

password, new asset acquired including its type, value,

location, date etc. However these input data has to be

specified so that the computer can carry on necessary

manipulation.

Input Specification for Real Assets (SQL Server

Settings)

Data Item Data Type Length

Description

ID Varchar 10 Identificationnumber of asset

Item Char 10 Asset name

Category Char 10 Asset type/category

Description Varchar 100 Asset detaileddescription

Manufacturer

Char 50 Asset manufacturer(for real assets likecars, machinery etc)

Model Varchar 50 Asset Model (for

real/fixed assets)DateAcquired

Datetime 9 Date asset wasacquired

PurchasePrice

Money 8 Price of asset at timeof purchase (forreal/fixed asset)

CurrentValue

Money 8 Value of asset basedon depreciation

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Date ofAcquisition

Datetime

9 Date asset wasacquired

Value Money 8 Value of asset atacquisition

CurrentMarket Value

Money 8 Value of asset at a pointin time based onmarket factors

Maturity Datetime

9 Maturity date for IOUs,bonds, treasury bills etc

Owner Varchar 20 Name of asset holder

Input Specification for Users (Holders of Assets)

Data Item DataType

Length Description

ID Varchar 10 Unique Identificationnumber for holder/bearer

of asset.First Name Varchar 20 First Name of asset

holder

Last Name Varchar 20 Last Name of assetholder

Company Varchar 20 Employer of bearer/holder of asset

Job Title Varchar 50 JobDescription/Occupation ofholder

Email Varchar 100 Email address of holder

PhoneNumber

Varchar 20 Contact number of holder/bearer

Address Varchar 100 Contact address of holder

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of asset

Output Specification/Expectation

Expected output includes windows-based forms for data

entry and manipulation, validation, security, and hard

copy reports printing features on assets.

File and Storage Requirements - Data is stored on a

relational database; the data base software used is

Microsoft SQL Server2002. The storage device used for the

proposed system is hard drive.

Control and backups the security and control facilities

of the proposed system ensure the accuracy, security and

privacy of the software resources. Control and backups

control for the proposed system include:

Requirement of password for access

Software checks

Periodic backup copies of the system

Personnel and Procedure The proposed software is

going to be used by client and companys administrator;

hence there would be need to hire the service of a

database manager.

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3.4 System Architecture

The proposed system combine page layout with

application content to create sophisticated database-

driven windows forms with controls, validation and

security.

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User

Interface

Validation

CodeCode Behind

SecurityCode-BehindSub-

classesPresentation

Layer

Record

Classes

Table

ClassesBusinessLayer

Connection

Management

Data Cache

Management

Transaction

Management

Table-Specific Data

Access ClassesData AccessClasses Utility ClassesDataAccessLayer

Database

SQL QueriesStored

Procedures

Database

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Presentation Layer The system comprises

windows (forms)-based user interface, including data

validation logic for built-in field types. An extensive

set of intelligent field types is supported providing

built-in validation for data types like email addresses,

currency, and phone numbers

Business Layer -The Business layer is where the

bulk of business logic resides.

Data-Access Layer the applications data access

code, table sorting logic, table filtering logic etc are

all part of this layer. It includes SQL statements and

queries needed for storing retrieving, and filtering

data from the database.

Database Layer This is the actual RDBMS and

objects of the database such as SQL Queries, Views,

and Stored Procedures.

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CHAPTER FOUR

IMPLEMENTATION

Implementation is the stage of a project during which

theory is turned into practice. This stage includes software

acquisition and development, personnel hiring and

training, site preparation and data preparation,

installation, testing etc. The stages for implementing the

proposed system are listed enumerated below:

4.1 Language of Implementation

The programming language used is Microsofts Visual

Basic. VB.NET is an offshoot of Visual Basic programming

language developed by Microsoft. It is one of the fourth

generation Object Oriented Programming Languages, as

against Visual Basic that is largely a procedural language.

VB.NET is the only .NET language that supports late

binding. In the VS.NET IDE, VB.NET provides a dropdown

list at the top of the code window with all the objects and

events; the IDE does not provide this functionality for any

other language. VB.NET is also unique for providing

default values for optional parameters, and for having a

collection of the controls available to the developer.

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4.3.2 The Software Requirement

Window XP embedded with service pack 2

Database Software (MsSQLserver2000)

Visual Basic.Net

The final stage of implementation is the conversion of the

system. At this stage, manual working has to shift from

manual to computerized working. Basically, two

strategies are applied on conversion process, which are

Pilot and Parallel. In Pilot run or conversion strategy, the

new system is installed in parts. Some part of the new

system is installed first and executed successfully for

considerable time period. When the results are found

satisfactory that other parts are implemented. While in

Parallel conversion, both the computerized and manual

systems are executed in parallel. This strategy is

recommended for the implementation of this project

because of the following benefits:

Manual results can be compared with the

results of the computerized system.

Failure of the computerized system at the early

stage, does not affect the working of the

organization, because the manual system

continues to work, as it used to do.

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4.4 The Interface of the New System

The application login Page (this requires a

User name and Password)

Applications Main Page this page is an

MDI form from were other windows can be

called and users can interact with the user. It

contains a menu bar with menus, a toolbar, a

tree view and a tab page control which

enable users to interact with the system

Contact Details page used to enter

information about Asset owners into the

database

Asset Details page used to Enter assets

into the database and to find asset

information.

Admin Password Setting page this page

is used to change and update username and

password of users of the system

A Report Page uses crystal Reports to

display information about assets.

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4.5 Update and Maintenance of System

Since humans and their demands are dynamic, the system

needs to be maintained and updated frequently to adapt

to the ever-changing technological world and the changing

environment.

Periodic updating of the computerized asset managementsystem is necessary with the assistance of a system

programmer, system designer and database administrator

to ensure that no corrupt hardware or software has been

installed in the system.

Also needed is virus protection software to safeguard the

system from falling victim to many types of viruses e.g. a

Trojan Horse and worms. (A virus is simply malicious

software that is intended to infiltrate a computer system

and corrupt it).

Username and password of administrator should be kept

secret, as exposure of this detail would allow unauthorized

users access to the database, thus exposing the financial

details of clients.

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CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

5.1 Summary

The project work is a result of efforts to fully computerize

and display the modern means of managing asset using a

generic case study. The use of a computerized system in

managing assets would definitely enhance the process of

asset management. The implementation of this project will

surely improve the efficiency and effectiveness of asset

Management organizations in terms of storing, saving

large volumes of data of assets, and easy access to asset

information which will improve the decision making

process of such organization.

5.2 Conclusion

Computerization has affected every facet of the society

from politics, education, leisure, business and

entertainment. Hence, asset management as one of the

determinants of a successful economy should not be left

out.

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