The design and production of assembled buildings are difficult to standardise, which limits their extensive application. In this paper, the design for manufacture and assembly (DFMA) concept is applied to the design of vertical precast concrete (PC) components for assembled buildings. Taking vertical PC components as an example, the rapid modelling and whole life-cycle application of DFMA-oriented PC components for assembled buildings are investigated. Firstly, the modular design method is introduced. By combining parametric design and building information modelling (BIM), we propose a modular, parametric design method and process of PC components based on DFMA. Secondly, the design of standard modules after secondary splitting is introduced for a better DFMA-oriented parametric design of PC components. We explored the secondary development process of DFMA and BIM and the module creation process of the parametric standard based on family templates and DFMA. Thirdly, based on the parametric standard module, the application of the optimised whole life cycle of design, manufacture and assembly of PC components is introduced. Finally, the feasibility of this method is verified by practical cases. The design process for PC components is fast, accurate and standardised. The integrated application of BIM is accelerated, and digital collaboration in assembly construction is strengthened. The study results are conducive to establishing a standardised design and production system for PC components, reducing design costs, improving design efficiency and the comprehensive benefits of assembled buildings.