The Hoops sit bottom of the Premier League after a winless start to the campaign that yesterday extended to 15 matches, equalling a record set by Swindon in the 1993/94 season.
QPR have just six points to their name after the 1-1 home draw with fellow strugglers Aston Villa - a game that kicks off a month that recently-appointed boss Redknapp believes will be vital.
"I think this December is decisive," the experienced boss said. "You've got to see where you are then, haven't you?
"If you're in touch, we can get a couple of wins and keep ourselves in there, then great have a go.
"If not, you've got to be careful. We've got to look at it and see where we are.
"Hopefully we are in touching distance and can get a couple of players in that can make the difference and get out of it that way.
"At the moment, I've got what I've got and we've got to get out of it with this lot.
"We've got to close the gap, get ourselves within at least touching distance of fourth from bottom and if we can do that I am sure we will have a go in January."
A key problem for QPR seems to be their unbalanced squad, with some areas overloaded with players and others severely lacking.
Redknapp hopes a good December will persuade the powers that be to bring in some new faces when the transfer window reopens, although he is wary of the high turnover of players at Loftus Road in recent times.
"We are okay in some positions and desperately short in others," the former Tottenham boss said.
"Obviously we're short of front players, we're short at centre half.
"I wouldn't spend any money if we were still in a dangerous position in January like we are.
"I wouldn't want to spend any money. I don't think it would be fair on the owners to spend any money. I'd advise them not to.
"If you're still adrift, what's the point? What you going to do? Load yourself up with players and have more big wages? That's not the point.
"If we're within touching distance come January, I am sure they will have a go and get one or two, but if they're not then I don't think they should, really.
"They bought 12 or 14 players in during the summer and they can't keep buying players, spending their money, upping the wage bill. They can't keep doing it."
Rather ironically, the star players yesterday were those that helped them achieve promotion from the Championship a year and a half ago.
Jamie Mackie's header earned QPR a point after they had fallen behind to an early Brett Holman goal, while Clint Hill hit the bar late on as they desperately searched for a winner.
"We needed that goal," Redknapp added. "If it had gone in, I think the place would have lifted off and we would have come in absolutely flying.
"To go to Wigan next week weekend with a win under our belt would have been massive for us, but we have to go there and try to win."