A reusable asset packaging and consumption method and system that support consumption activities and variability point instances associated with asset types or artifact types. Generic consumption activities and variability point types for different asset types or artifact types and developed and stored in a repository. When an asset packager packages an asset, a needed activity is selected from the activities associated with the type of the asset. The activity, a variability point instance bound with the activity, and the context constraints, together with the artifacts is packaged into the asset package, where the asset package is then stored in a repository. During consumption, the asset consumer obtains the asset package, verifies the context, and executes the activity packaged in the asset, while specifying variability point values for the bound variability instance.