The 47-year-old Italian accepted that despite delivering the FA Cup last season - the club's first trophy in 35 years - and guiding them to their first genuine title challenge for years this season failure to land it may end his term less than three years after taking up the post.
Mancini, who lost his previous job at Inter Milan only days after they won their third consecutive Serie A title under his stewardship, said he hoped club chairman Khaldoon al-Mubarak would acknowledge the huge progress the club had made since he replaced Mark Hughes.
"I hope so because of what's happened over the last two years," said Mancini, whose side set the pace for most of the season before a recent slump saw the title race swing the way of defending champions and bitter rivals Manchester United.
"But I know football very well and I left Inter after (winning) seven trophies in four years.
"In football anything can happen. The same regarding my future. I don't have a problem with that."
Mancini, who has admitted that should United beat QPR on Sunday and his side lose to Arsenal leaving them eight points behind the title race would be over ending dreams of a first league crown since 1968, said whatever happened he was proud of the way the team had progressed.
"I started this job 2 1/2 years ago and since that moment we have improved a lot as a team, players and a club," said the former Sampdoria and Italy attacking midfielder, who was capped 36 times.
"I've been in this world a long time and I know you can lose the title. But it's important to me that the squad have improved a lot.
"I don't decide this (my future) I do the best for my job and after I don't decide the situation."
Whether Mancini survives or not City will definitely be losing their highly-rated technical director Mike Rigg, who according to 'The Times' has agreed to join another Premier League club after successfully overhauling the scouting system since his arrival in June 2008.