The Blues boss says that whilst the owners are as ambitious as he is, neither he nor they plan to be giddy during the recruitment process.
"It's early in the summer yet," Redknapp told bcfc.com. "But we're busy already and we're looking around, we've got a few irons in the fire.
"But we have got to make sure that we spend money wisely, we don't want to be wasting it.
"If I can't be bringing in players who can improve on the what we have got in the squad, then I won't be doing anything.
"We're looking at all options, and it's to get quality as well as value for money."
Redknapp agreed a one-year contract after guiding Blues to Championship safety over a three-game period.
He held fruitful talks with the owners and Board of Directors as the dust was settling on that dramatic final day Bristol City match.
And in meetings since he has had no reason to dim his enthusiasm for the task ahead, nor his optimism.
"The owners, the Board, have been very positive, they've been excellent with me," he said.
"They're ambitious people and they're backing us to have a go, a really good go, next season - which is great."