Peter affirms here that God’s plan for redeeming man was formulated before the creation. This was not an effort to mitigate any mistake, God knew that free will would bring about disobedience. As such, a means of reconciliation between Him and man was necessary. The same sentiment is expressed in Ephesians 1:3-14.
This scheme of redeeming man came to a climax in the first century, the latter days, when Jesus was manifest to man. He came to earth as a man, lived a sinless life, taught His will, died on the cross, was resurrected from the dead, and ascended back into heaven. This was done, as Peter wrote, “to you who through Him believe in God.”
Jesus, who humbled Himself even to the point of death (cf. Philippians 2:8), was given glory by His Father, as He raised Jesus to sit at His right hand on heaven’s throne. In this it can truly be said that in Jesus, (and in Him alone, cf. John 14:6), reside our faith and hope for an eternity as the redeemed in heaven!