Mick McCarthy's men have picked up just two points from their last five matches and are 19th in the Barclays Premier League.
They take on West Brom this weekend, with the Baggies having climbed into 11th place after a late-season revival masterminded by new manager Roy Hodgson.
Speaking at a charity golf day as part of former Wolves goalkeeper Matt Murray's testimonial year, Ward said: "At this stage of the season, with three games to go, we have to look at every game as a must-win.
"People are saying that Sunday (against Birmingham) was a must-win, but we have to take a point and move on.
"Because it is so tight a point might keep you in there, but three points would be invaluable and that's what we'll be looking to get."
Source: PA
Source: PA