In a large skillet heat oil over medium-high heat. Add onion; cook and stir for 3 minutes. Add garlic; cook and stir for 1 minute. Add lamb; cook for 3 to 5 minutes or until brown on all sides.
Stir in broth, couscous, oregano, cumin, salt, and black pepper. Bring to boiling; reduce heat. Cover and simmer for 10 minutes, stirring occasionally.
Stir in asparagus and red pepper. Cover and simmer for 3 to 5 minutes more or until vegetables are crisp-tender. Fluff lamb mixture lightly with a fork. Sprinkle with oregano and serve with lemon wedges.