Chris Ramsey wants the QPR job on a long-term basis, but warned there will be no quick fix for the west London club.
Life at Loftus Road is bleak right now, with Rangers seven points from safety with just three matches of the Premier League campaign remaining.
They could be down by the time they take to the field at Manchester City in the unlikely event all four catchable sides win on Saturday, while their fate will be sealed if they lose at the Etihad Stadium.
Despite that, and the fact QPR have lost eight of their 12 matches under his tutorship, Ramsey has reportedly impressed enough to get the job past the end of the season.
The Rs boss said nothing has yet been agreed with the club, but the former Tottenham coach's desire to stay is clear.
"We have had discussions before, but nothing has been put in concrete at the moment," Ramsey said.
"There is still the rest of the season to be getting on with.
"I am hoping I am going be here, but we have not put pen to paper and put anything in stone yet.
"A decision is going to be made at the end of the season, but I am hoping it will be me at the helm. We have not put pen to paper yet."
It looks likely that QPR will be a Championship club by the time that deal is struck and Ramsey believes it will be tougher than before to bounce back immediately, with player changes and a Financial Fair Play penalty looming large.
He said the club are in a "rebuilding phase" whatever division they find themselves in, highlighting the need to build a foundation for the future.
"I think it will be difficult because you do have a lot of obstacles that were probably not there before," Ramsey said.
"If the season was to end up negatively, I think it would be important that everybody around realises that in order for the club to have long-term stability that there is going to be a rebuilding period.
"People will have to be realistic about how long that is going to take.
"Having said that, everybody would want to bounce straight back into the Premier League and I am sure that's what we're going to try and do.
"But we have to be realistic about what we want for the club on a long-term basis."
QPR's immediate fate could be sealed in a match for which Ramsey said they are down to the "bare bones".
Bobby Zamora, Steven Caulker, Clint Hill and Mauricio Isla are all doubts for the trip to the Etihad Stadium, while Nedum Onuoha, Eduardo Vargas and Alejandro Faurlin are unavailable through injury.
Rio Ferdinand is also absent following the passing of wife Rebecca and Ramsey said the former England international has as much time as he needs.
"He is obviously devastated and everybody at the club just wishes him all the best," the Rangers boss said.
"Hopefully he can bring his family through it in the professional way that he has handled himself all the way through a very difficult time.
"We are not going to push anything or even mention it to him. There are some things greater than your job, aren't there?
"If he decides to come back and train and make himself available, then he will be in contention to be picked."