Combine the barley and water in a large pot. Bring to a simmer and cook 45 minutes, or until the barley is soft and chewy and all the water is absorbed.
Meanwhile, steam the asparagus in a steamer basket for about 3 minutes, or until it is bright green. Toast the pecans in a skillet over low heat until fragrant, watching carefully not to burn them.
Combine balsamic vinegar through black pepper in a liquid measuring cup for easy pouring.
Toss together the cooked barley, asparagus, cranberries, and feta. Drizzle with the balsamic mixture and stir to coat. Divide among 4 bowls and garnish with pecans.
Notes
Pecans will get soggy in any leftovers. Store the pecans separately until ready to eat.