Despite spending £20m in the January transfer window, the former Tottenham Hotspur boss feels that the standard of players at the club has been the biggest contributing factor to their plight.
"We aren't [going] down because a manager before me wasn't good enough," Redknapp told Sky Sports News.
"Mark Hughes is a good manager. We're there because the players aren't good enough. We had a go, but maybe we are short of that bit of quality needed in this league.
"They're not bottom of the league (when Redknapp took over in November) and cut adrift because they had a bad manager, unfortunately, the team wasn't good enough. I took a challenge on, I've worked hard every day, I couldn't do any more."
QPR play fellow strugglers Reading at Loftus Road next Saturday.