Lampard's past managerial career has not been particularly bright. I think he may be a coach who is considered temporary. Its permanence depends on its success. If he makes a big surprise and gets successful results in the Champions league, maybe he can continue next year. If Chelsea's current bad chart continues, they will continue with another coach next year.
It's hard to expect Lampard to make big changes to the Chelsea squad in such a short of time, his experience as a coach at Chelsea before as well as Everton shows what he really is, he still needs time before he becomes a great coach, and actually coaching teams in other divisions will it is better for him to gain a lot of experience like Vincent Kompany did.
Especially in big competitions like the champions league where only a strong team will survive, not only about the player material that the team has but the coach's ability to determine the right strategy from one match to another, because Chelsea has pretty good player material but doesn't have a coach yet which is pretty good.
Chelsea will lose this first-leg match and Chelsea's poor defense will make Madrid free to score lots of goals, maybe Benzema will make a hat trick, and Lampard's position at Chelsea will not be permanent and that is a good thing in my opinion.