Hi Omkar,
You can use the below URL to configure your solman, although there will be some difference as your SP level is SP08.
https://websmp207.sap-ag.de/~sapidb/011000358700000482292011E
You need S-user id to access this content.
You have to install Diagnostics agent and hostagent on all managed system, database server and application server and connect them with solman while installation or you can connect it to solman later on also.
More information is available on: http://wiki.sdn.sap.com/wiki/display/SMSETUP/Home
Cheers,
Sharib