The difference between Ole and Lampard is firstly Ole has an assistant manager working under him who has already won 3 premier league titles as Fergie's no. 2, has rich Champions League experience and had experience managing the worlds best players already such as Cristiano, Scholes, Rooney, Van Persie.
Lampard had Jody Morris as his no. 2.
Ole then had 6 years management under his belt, even though it was Molde, he still got great experience there developing young players.
I think Lampard has talent. I think he should work as a no. 2 for a year or two under an experienced coach who plays nice football and who develops youth, or bring in a very experienced no.2 next time at a Championship club and gain more experience.