I have woodworking project with multiple components which I would like to show in LayOut with details/dimensions(top, left, front, iso) for the engineer, who is going to actually make components from the wood. How can I place individual components into LayOut, without creating separate .skp for each of them?
Save Views (and name them consistently) in SketchUp of each component in the correct ortho orientation (plan, section elevation) using either layers or hide to control visibility of non-focal elements for each view.
Annotate and dimension appropriately: all dimensions and annotations should be associative, which means not only that they move and adjust with element translations, it also means that when the layer the dimensioned or annotated element is on is hidden, so is the relative annotation. You can also individually directly control the layers of the annotations and dimensions themselves.
Those views, with all appropriate annos & dims and set by you to the correct scale in the VIEW (not after the fact in Layout) are what you place on sheets in Layout.
The reason I mention setting correct scale in Views in SketchUp is that when you alter the scale in Layout, the impact on apparent text size for annos and dims is both large and frustrating - skip that issue by having good discipline in setting scales in the appropriate place - the saved view.