QuTiP stands for Quantum Toolbox in Python. It basically aims to be one-stop shop to carry out any quantum mechanics based calculations in python.

From qutip.org

QuTiP is open-source software for simulating the dynamics of open quantum systems. The QuTiP library depends on the excellent Numpy, Scipy, and Cython numerical packages. In addition, graphical output is provided by Matplotlib. QuTiP aims to provide user-friendly and efficient numerical simulations of a wide variety of Hamiltonians, including those with arbitrary time-dependence, commonly found in a wide range of physics applications such as quantum optics, trapped ions, superconducting circuits, and quantum nanomechanical resonators. QuTiP is freely available for use and/or modification on all major platforms such as Linux, Mac OSX, and Windows*. Being free of any licensing fees, QuTiP is ideal for exploring quantum mechanics and dynamics in the classroom.