Two months on from his surprise sacking by Southampton, the 48-year-old on Tuesday returned to the Premier League as successor to Brian McDermott - the man who beat him to the Championship crown last season.
However, Reading are in serious danger of an immediate return to the second tier as they sit seven points adrift of safety with eight matches remaining.
After signing a deal at the Madejski Stadium until 2016, Adkins said: "Everyone has written us off but it is a great challenge, isn't it?
"Let's dream and go for it. I think the important thing is we take it one game at a time without setting a points total.
"Yeah, it is going to be a great challenge but one we're relishing.
"You can always look at the history that has gone on. That's in the past, you've got to look to the future now."