Rangers have only seven matches to maintain their place in the top flight, starting with Sunday's critical showdown against Wigan - another precariously positioned club - at Loftus Road.
"If we went down I would beat myself up over it, of course I would," he said. "I knew we were in a hard position when I took over. We had four points from 13 games, so it was never going to be easy."
He added: "The team are playing as well as they've ever played at the moment and that's such a shame because in the last two games we haven't had the rewards.
"We've been going forward, opening up teams and making chances, looking like we can score goals.
"It's suddenly looking like we can score. It's all about players. Now we have Loic Remy and Andros Townsend and they have given us something. It makes a difference."
QPR invested heavily in the January transfer window to give them hope of staying in the Premier League, paying large transfer fees and wages to lure Remy and Christopher Samba to Loftus Road.
It is a risky policy but Redknapp insists the team are fully committed to the survival bid.
"Of course the players care where we are. Remy has done well, Townsend's here on loan and has been excellent," he said.
"I've got no problems with them, they're giving everything they've got. We just haven't had the breaks in the last two games."