QPR chief executive Philip Beard hopes to have a new manager in place before this weekend's Barclays Premier League trip to Newcastle but is remaining tight-lipped about prospective candidates.
The Rs have already begun their search to replace Neil Warnock, who was sacked on Sunday night following an indifferent start to the season in which the top-flight newcomers have picked up just five wins from their 20 matches and lie 17th in the standings.
Mark Hughes has emerged as the bookmakers' favourite to replace Warnock, but Beard refused to confirm or deny whether they had held talks, telling BBC Radio Five Live: "I can't confirm anything, what I can tell every QPR fan is that we're working extremely hard to bring in the right person to build some stability at the club and then build for the future."
He added: "We've talked to a lot of people in the game. We've got to get the decision absolutely right.
"We've been working very very hard in the last 48 hours to make sure that we can put in place a structure that we feel can deliver success to Queens Park Rangers, hopefully for this season but certainly beyond."
Beard hopes that appointment will be made before this weekend, adding: "I'm hoping that in advance of our important game against Newcastle next Sunday we will have somebody in place, to be up at Newcastle."
Warnock led the west Londoners back to the top flight after a 15-year absence last season but, with QPR only a point above the bottom three, Beard insisted the time was right for a new face on the bench.
"We haven't made the change lightly because of the skills and success that Neil brought to the club but I think QPR fans will understand why we are making the change now," Beard said.
"We want to remember what he achieved here but we need to move on, we have big aspirations and goals for the club under the new ownership and we think the time is right now to make the change.
"It's not easy at any stage to make a decision like this but we believe it's the right decision for the club and for the fans."