APQP stands for Advanced Product Quality Planning. It is a concept that is used by businesses to help take into account their specific needs when creating new products or services, or updating existing products and services. The goal of creating any part or product is to meet the specific needs of a customer who will be paying for it. If you do not meet their requirements, they will not be happy with the results and will not want to work with you going forward. If you put in too many features or options, however, they may be happy with the results but will not pay the extra money that it took to add in these added things. This means you wasted money by adding them, so it should be avoided.
The APQP process will allow you to properly document all the analysis steps that are taken when planning out your project. Having all the documentation performed systematically and keeping the information in one place will make it easier to reference throughout the design process. In many ways, this will work as a risk analysis that can be used before you even begin the production of a specific part or product.
The APQP concept has multiple different steps, or phases, that you will go through. Each phase will help you to identify the needs of the customers and determine how you can meet those needs in the most efficient way possible. While this process may seem intensive up front, the results will ensure your customers are happy and you have optimized your bottom line.