The Hoops are rooted to the bottom of the table with just two wins all season, and are seven points adrift of safety having taken just 17 from 26 games.
However, the former Tottenham boss thinks a good run of form is just around the corner for his team, and has set his sights on a target which he feels the club can battle towards to remain in the top flight.
"I think we need 20 points from our final 12 games to give ourselves a chance to be honest," he told the club's official website.
"If someone offered me 37 points now I'd probably take my chance and think that would be enough."
If QPR are to start collecting vital points though they will have to do it the hard way, as their next match sees Premier League leaders Manchester United coming to Loftus Road - but Redknapp is ready for Sir Alex Ferguson's side.
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"You look at some of the names that didn't feature on Wednesday, the likes of [Nemanja] Vidic and [Chris] Smalling and many more, and it's just unbelievable.
"It's a cracking game for us though. Welcoming United to Loftus Road is something I'm sure the fans are excited about.
"We were on a nice little run prior to the Swansea defeat [4-1], so we're looking forward to it," he added. "We know it's going to be a tough game, but it's a great challenge for us."