Lampard had a spell as caretaker manager at Chelsea last term.
"I think that small steps are the right way to go. It has been a season for small steps," he told BBC Sport.
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"I am not surprised considering how they have built the squad."
Lampard further says that he believes that the major renovation of the playing squad in the last transfer windows was necessary.
"I understood the difficulties that would arise for any new coach. A major renovation of the squad awaited. It needed to happen," he added.