Redknapp picked up the reigns at Loftus Road in November last year but has failed to move them out of the relegation zone during his six months in charge.
The 66-year-old admits dropping two points in the draw at home to Wigan was difficult to digest, but, as he prepares his side for an away trip to Everton on Saturday, believes he can still navigate the club to safety.
|REDKNAPP SICKENED BY LATE EQUALISER
|14/1||QPR are 14/1 with bet365 to beat the drop
“There's still some life left in us. We've got to go again now. It's going to be hard [to stay up], but while there's still a chance, you've got to keep believing.
“Saturday is massive. We need to win four games and draw one to give ourselves a chance. There's not many tougher places to go than Everton. They're a good side - a proper football club.”
Redknapp saw his side play the majority of their last fixture with just ten men following Bobby Zamora’s dismissal although then took the lead through Loic Remy with five minutes remaining.
The France international is now the club’s joint-top goalscorer despite only joining in January from Marseille and Redknapp feels the lack of firepower in attack has been his team’s biggest downfall.
He continued: “Bobby's sending off was a rash decision and missing him for three games is a big loss. When Bobby and Remy have played together we always look like we're going to win, but we can't get the partnership together.
“Often one of them has been injured and now Bobby's suspended. This has cost us dearly. Remy's our joint leading goalscorer now with five goals.
“That's been the problem here - we've had no one to score goals. How can you have a leading goal scorer who's only scored five goals? It's almost impossible.”