The 51-year-old star is hotly tipped to take home the Oscar at the ceremony next week for Best Actress in a Supporting Role for her portrayal of Rose in Fences but knows she'll have to work just as hard if she ends up taking home the trophy.
Asked about the Oscar buzz, she told The Irish Times: "Yeah, it feels good. But once again I know that the noise is going to die down. I don't know if a lot people understand this, but awards season starts in October and it's every day. Every day there's something. You're exhausted. You're flying back and forth.
"Then you get the gold statue. Everything becomes about that. People think it's going to change their lives and it doesn't ... Everyone talks about the Oscar curse. There is no curse. This is all about winning a statue. After you win it, you take photographs with it and then you get back to work. And you still have to deliver."
Meanwhile, Viola admits being the favourite to win an Oscar and then losing is "devastating".
She explained: "You know, I've been the odds on favourite to win before, and not. And it's devastating. It makes it worse.
"You're sitting there and you're like, 'I'm the odds on favourite, okay' and then your name is not called, it's like falling from a 100 storey building.
"As opposed to if you know you're losing, it's like falling from a one storey building."
