The ultimate goal of seismic data processing is a recovery of a model of an investigated medium. At the same time it is important to use some reference model of the media (particularly, velocity model) during processing and especially imaging procedures because only in this case one may expect to derive adequate results for further interpretation, At interpretation stage, during seismic image analysis it is possible to estimate the inconsistency of the model used and make appropriate corrections. These considerations lead to the concept of simultaneous iterative processing-interpretation of seismic data. DDR (dynamic wave field Decomposition and velocity model Reconstruction) is the implementation of such concept of vertical seismic profiles data. DDR is an interactive tool of velocity model editing, ray tracing, wave field separation and joint imaging with the use of various wave types including multiples. The concept, general DDR processing workflow together with corresponding illustrations is presented in the paper.