From what you've described, the 'components' are actually token components? That is an object made up to look like a resistor or capacitor or whatever. Therefore you need to identify the object and the location. How many components and how many locations is the first hurdle. There is a myriad of solutions, from the simple to the more complex. My first suggestion would be to use different value resistors and have the micro measure the value. Another suggestion is to use Dallas 1wire devices and have the micro detect the serial number of each of the components. That's just a starter.

Since this is your final year project you'd better get your brain into gear - what are you going to do when you're employed as an engineer and have to solve a problem? Your employer wouldn't be too impressed if you were using the internet to do your work!!!