Wolves chief executive Jez Moxey remains optimistic the club will appoint Mick McCarthy's successor as manager before the next game against Newcastle United.
McCarthy was sacked by Wolves on Monday, after the 5-1 derby defeat by West Brom the previous day saw the club slip into the relegation zone.
Several names have been mooted as contenders to take charge at Molineux, with Alan Curbishley, Steve Bruce and Neil Warnock understood to be the three leading candidates.
Moxey believes that the club are making progress in their attempts to recruit a new manager and is hopeful an appointment will be made before next weekend's trip to St James' Park.
However, Moxey is keen to stress that the priority for the relegation strugglers is to ensure the right manager is handed the task of keeping the club in the Premier League.
"Things are progressing," Moxey told the club's official website.
"We are continuing to work to the timetable we indicated at the outset of this process and remain optimistic we will be able to fulfil those requirements.
"Our intention has always been to have a new manager installed in time to take charge of the team for the Newcastle match and that remains the case.
"But I stress - we want the right candidate, not the quick candidate."