Redknapp, who has insisted Adel Taarabt and Julio Cesar will only leave the club on permanent deals rather than loan moves, has already bolstered his squad with the signings of defenders Danny Simpson and Richard Dunne.
And Pericard - who worked under Redknapp during his spell at Fratton Park - believes his former boss will maintain his impressive track-record of signing players who will make a difference.
"One thing I am sure about is that Harry Redknapp has conducted due diligence over the players," said Pericard.
"He knows exactly why he has brought in those players - the general public or the fans might not understand but soon they will see why he has bought those players.
"I have no doubt about his transfer policy or his transfer strategy because he has proven it before with the likes of Teddy Sheringham and Paul Merson where people thought they were finished, but they did the business."
QPR left for their pre-season tour of Austria earlier this week without a number of players including Joey Barton, Jose Bosingwa and Anton Ferdinand as speculation continues to mount over their futures.
Pericard, who was speaking at the launch of Kick It Out's Guidance Groups campaign, sympathises with Redknapp's plight - but is adamant the former Tottenham manager will make the right decisions ahead of the new season.
"It's a very, very difficult situation for him because he has a lot of variables to deal with," he added.
"Obviously he needs to reduce the wage bill and he has to deal with players who are unhappy being in the Championship.
"He has to deal with a lot of egos so I can imagine how difficult it is for him, but he is vastly experienced. "
Pericard, who retired from professional football last year, also paid tribute to Redknapp's management style and is convinced the 66-year-old will lead QPR back into the Premier League.
"I'm sure he will eventually turn the situation around in a positive way where QPR will not only excel in the Championship but get promoted again," he said.
"His man-management skills are amazing. He makes you feel like you want to give 100% for him and he knows how to get the best out of players.
"In the Championship that's what you need."