Lampard has urged his young Chelsea side to improve after securing progression to the knock-out stages with a 2-1 win over Lille on Tuesday night, but there is always the transfer market if needed after the embargo hanging over the club was lifted.
Goals from Tammy Abraham and Cesar Azpilicueta put the Blues in control at half-time, but they failed to kill off the Group H tie.
When former player Loic Remy lashed home with 12 minutes left, it set up a nervy finale at Stamford Bridge, especially with Valencia winning at Ajax.
Another Lille goal would have seen Chelsea drop from second to third, but they held on and reached the round of 16.
If Chelsea continue to lack a clinical edge, Lampard could dip into the transfer window next month now the club's transfer ban has been lifted.
But he insisted he was happy with his group of players and will only move into the transfer market if the right player comes along at the right price.
There have been suggestions that new players could disrupt the balance and harmony in the squad and it seems as though such thoughts are in Lampard's mind as well.
"I'm calm about this window. I know what the squad is," he said. "I believe in what we've got now and I don't think we will be crazy just because the transfer ban has been lifted. I think we just need to keep working."
On the performance itself, Lampard was happy with it, but knows they will have to raise it to another level in the next stage of the competition.
"We are in the next stage and I think that is a really good achievement for the group, but we know once you get to the next stage how cut throat it will be," he added.
"Looking at the opposition we will be up against, we can't afford to miss chances or give chances away."