Is it possible to use CP2102 instead of ATMEGA16U2 on custom project

I am now planning to build my own custom Arduino for the relay server and I really wonder whether it is possible to use the CP2102 USB to TTL Serial Converter like this one

http://www.ebay.com/itm/6Pin-USB-2-0-to-TTL-UART-Module-Serial-Converter-CP2102-STC-Replace-Ft232-Module-/400565980256?pt=LH_DefaultDomain_0&hash=item5d4397cc60

for serial monitoring and programming the board using ATMEGA328P as the man uC

Sure. I can't open that link; make sure the device you pick has a DTR pin, or has DTR broken out so you can DTR thru a 0.1uF cap to Reset (with a 10K pullup).

Thank you very much for the answer.

But do I have to install any thing like a firmware on the CP2102 or just plug it to the USB port on my PC?

chattana_j: Thank you very much for the answer.

But do I have to install any thing like a firmware on the CP2102 or just plug it to the USB port on my PC?

You only have to install the correct USB driver that supports the CP2102, no other software or firmware required. This driver is not supplied with the Arduino IDE so you will have to locate it on the web. Some sellers on E-bay of CP2102 modules show a link to it's USB driver files.

The ones I bought came with a mini-dics with the driver. I think later versions of Windows have a driver included.