Lampard has been under pressure over the last few weeks as his team squandered a good start to the campaign and are now sitting in ninth in the league table.
Chelsea have won just two of their last seven Premier League games and there are suggestions that the club hierarchy are already considering replacing their former midfielder at the helm.
Lampard has batted away questions over his future, but it has been claimed that the club have identified managers who could come in and replace him.
According to German magazine Sport Bild, Chelsea have a five-man shortlist prepared if they have to sack Lampard in the coming months.
Out of work managers such as former Paris Saint-Germain boss Thomas Tuchel and ex-Juventus coach Massimiliano Allegri are on their radar.
Current Premier League managers Brendan Rodgers of Leicester and Southampton’s Ralph Hasenhuttl are also included on their wish list.
RB Leipzig’s 33-year-old head coach Julian Nagelsmann has also been included on Chelsea’s shortlist of targets who could replace Lampard.
Chelsea could make their move for a new manager soon if league results do not improve for Lampard in the coming weeks.
The Blues will take the short trip to Craven Cottage on Saturday when they take on Fulham in the league.