The 38-year-old said Barnsley need "possibly eight or nine" more wins from their remaining 19 matches to survive another relegation battle after being officially unveiled as the club's fifth manager in the last eight years at Oakwell on Tuesday afternoon.
The Tykes sacked predecessor Keith Hill at the end of last month after a run of one win in 14 games and were turned down by Sean O'Driscoll and then Terry Butcher as they searched for a new manager to keep the club in the second tier.
Flitcroft was initially reluctant to take on the role of caretaker through loyalty to Hill, whom he worked with for five years at Rochdale before the pair moved to Barnsley in June 2011.
After a defeat at Peterborough in his first game in temporary charge, an FA Cup win over Burnley and the weekend derby defeat of Leeds convinced the Oakwell board to give Flitcroft his first job as manager.
When asked how many games Barnsley must win between now and the end of the season, Flitcroft replied: "Possibly eight or nine.
"I've reiterated to the players this is one game at a time. It's one training session at a time. We're instilling good habits and a winning mentality but there must be a calmness. We can't be rash.
"I'm absolutely delighted. As soon as the Leeds game was over we started processing things. I got the call from the directors that they wanted me to carry on and start this new adventure.
"It's really exciting. A Championship opportunity in my first management job is something that you dream about and it's something I'm in now.
"I can't wait to continue the work I've already started."