Olsen was appointed caretaker coach last week and believes he can lift Norway off the bottom of their qualifying group and guide them to their first finals since 1998.
"I'm happy to help us qualify, of course, and everyone is happy with this arrangement," Olsen told Reuters in a telephone interview.
"I'm 66 -- I'm too old to do this now," said Olsen, who was appointed following Aage Hareide's departure last month. "But I told them I was happy to do it.
"They wanted someone who knew football and can develop the way we play, with national team experience -- there aren't many people like that in Norway.
"I said I can do it, just until a proper coach is found. If they find one soon I'll leave in April."
However, his legacy was soon forgotten and Norway's brief appearance at the 2000 European championships was the last major tournament they played in.
Olsen, who is affectionately known in Norway by his nickname "Drillo", is adamant that despite their poor start in Group Nine, Norway can still qualify for South Africa 2010.
"Things may look bad but I believe we have a very good, very realistic chance of qualifying," he added.
"We'll need a lot of luck but we are at the same level as the other teams, except for the Netherlands."
Olsen's coaching experience since finishing in the English top flight in 2000 has been restricted to the Norwegian under-19 side and an ill-fated three-match spell with Asian champions Iraq, by whom he was fired for refusing to travel to the war-torn country.
Despite his age, and surgery on his heart and back, Olsen said he was fitter than ever and would devote himself to getting Norway's campaign back on track. Their next qualifier is away to Macedonia on June 6.
"Of course, I will make changes," he said. "We have a lot of young players, a lot of good possibilities. When I name my first squad, it will include a lot of young, new players."
"It depends," he said. "If we get to South Africa, the situation will maybe change, but I'm not thinking that far ahead."
