In recent years, the Architecture, Engineering, and Construction (AEC) industry has broadly expanded the use of Virtual Design and Construction (VDC), particularly Lean Construction methods, to deliver value to their customers. VDC includes the use of Production Management using Lean methods as an integral part of the defining theory and method, and multiple case studies have concluded that the greatest performance improvement is achieved by implementing both initiatives together. This paper reviews extensive literature of VDC and Lean Construction with the intent to show benefits in the application of Lean Construction in the actual practice of VDC and to provide examples of waste and opportunities for improvement in projects if Lean methods are applied. This study found that use of Lean methods can help to reduce waste within the VDC process, in the phase of information flow (process view). Specifically, our main finding from this study was that only five types of waste represent 80% of the referenced occurrence of waste in VDC processes, which suggests that if teams use Lean Methods and focus on elimination of these types of waste (i.e., non-value added processing, motion (excess), inventory (excess), waiting and overproduction), teams can improve VDC practices dramatically.