Abstract: For a given two-term complex of vector bundles on a derived scheme (or stack), there are three natural ways to define its “derived projectivizations”: (i) as the derived base-change of the classical projectivization of Grothendieck; (ii) as the derived moduli parametrizing one-dimensional locally free quotients; (iii) as the GIT quotient of the total space by $\mathbb{G}_m$-action. In this talk, we first show that these three definitions are equivalent. Second, we prove a structural theorem about the derived categories of derived projectivizations and study the corresponding mutation theory. Third, we apply these results to various moduli situations, including the moduli of certain stable pairs on curves and the Hecke correspondences of one-point modification of moduli of stable sheaves on surfaces. If time allowed, we could also discuss the generalizations of these results to the derived Quot schemes of locally free quotients.