Project Title: Asset Management System for University of Colombo School of

Computing
About the Project:
This project is aimed to develop a comprehensive asset management system to complement
or replace the current asset management system existing within the University Of Colombo School
Of Computing by building a web application to record and manage the assets which are procured
to the university, and a companion Mobile app to help for identification and verification of assets.

Introduction to the project

University of Colombo School of Computing, currently the financial department uses a
manual system to manage and control assets. Although they uses Excel spreadsheets to perform
this task, it is difficult to track the assets and also University of Colombo School of Computing
requires a third party to carry out the board of review. This requires an additional cost for them to
fulfill the process. Also, even though all assets are marked with a bar-code sticker, there is no
proper procedure that makes use of the bar-code to the system.

Current Manual process

The Asset Management System process start with procurement request receives from a
department or individually. Then the Director Sir reaches the request order and inspect it. If request
is acceptable, director sir approve and if not the request is acceptable, it will reject. Once request
is approved it will be sent to the NOC (Network Operating Center) or Engineer department. It is
depend on the procurement request. If the request for computer and electronics parts it will be sent
to the NOC and if the request for office equipment and furniture then it will be sent to the engineer
department. Then these departments prepare a specification document (Spec. document includes
estimation & all information about the procurement) and it will be sent to the Director Sir for the
approval. Once director sir approved it will back to the regarding department. Then the Spec.
document sent to the Financial and Supply Department. And that moment request TEC (Technical
Evaluation Committee) from the director sir and he will appoint the TEC. Once the specification
document reach the financial and supply department, the request sort by the cost of the
procurement. If the procurement amount is more than 2 million, then there are use Newspaper
advertisement for the bid. If the cost is less than 2 million, then the bidding process move to the
shopping method. (Shopping method means financial department selects the companies for
bidding process using the pre-sort company list.) If financial department published a Newspaper
there are created a biding document and if used shopping method there are created a shopping
document for the bidding process. There are involve TEC & financial department for create the
bidding document and shopping document. And if the purchase order is more risky and it reaches
more than 1 million level then the TEC can make the bid bond. And bid bond rate is 1% or 2% of
the purchase.
Then those created documents will be recommend by the TEC and it sent to the DPC
(Department Procurement Committee) for approval. (There are have two DPCs and those are DPC
Miner & DPC Major. DPC Miner for approve to shopping document and DPC Major for approve
to bid document). Once approve documents, financial department will be publish a Newspaper
advertisement for bid or post bids for selected company with the deadline as the related method.
Then the financial department issue the biding document for company in bidding method. Before
pass the dead line, BOC (Bid Opening Committee) will be assign and get approved by the director.
Once pass the deadline, BOC will be open the quotation and offer to the TEC. Then the TEC
evaluate the opened quotation. At that step quotation can be forward or reject. If the TEC forward
quotation, TEC should sent it to the DPC with recommendation. Then the DPC Minor or DPC
Major check recommendation of TEC and approve for it. If the DPC don’t approve it, quotations
can be reject and cancel the tender or can be sent to TEC to reevaluate the quotation. Once the
Department Procurement committee approves the selected quotation purchase order is placed. If
this purchase order is with high value or still risky, financial department sent a letter of acceptance
to the suppler and get performance security from the supplier. Performance Security is around 10%
of the whole procurement and after fulfill the PS, financial department place the order and acquire
the good with the invoice. Once receive those goods to the UCSC, NOC or engineering department
will be check it and sign the invoice by the related division head and that department deliver the
equipment to the request department or person.
After that divisional head inform to main asset clerk about new received asset. Main asset
clerk check that asset by technical evaluation committee. If it reject by TEC, it will return. After
TEC verification main asset clerk create inventory certificate and issue barcode, asset code. Then
take signatures for inventory certificate and invoice from divisional head. Divisional head enter
that new asset details into divisional inventory book. Divisional head keep copy of invoice and
return inventory certificate and invoice to the main asset clerk. After that main inventory book
update by main asset clerk. Then send invoice and inventory certificate to the finance department
for the payment .Take signature for the inventory certificate and invoice from the bursar and done
payment under credit limit for the purchase asset. Finance department keep copy of inventory
certificate and invoice copy. Financial Division Asset clerk enter asset details into fixed asset
registry. Then return original copies to the main asset clerk and keep those document in general
administration division.

Scope of the project

After receive purchase asset order to the university, that asset should mange until become
auction. During this period of time asset should add to the database, added asset can move to
another division, asset can damage or become disposal item. Also every assets have depreciation
value. It should reevaluate after fully depreciated. Fixed asset can identify using mobile app by
reading barcode of asset and saved asset image. Board of Survey process should done easily using
mobile application. Asset Procedure to procure assets into university, Temporary shifting of asset
not cover under this system.