Yes, and no. The generally accepted time for when you turn a projector off is at least 20 minutes. If you are going to be away from it for more than 20 minutes, turn it off, if you will be gone for less than 20 minutes, just leave it on.
That's the approximate time, generally, that you lose when you power cycle your projector. The lamp loses about 20 minutes a pop, give or take a bit.
This is a rough estimate, and it is very hard to give a more accurate number without tons of measurement equipment, but from discussions I've had several years ago, this was the number that was derived as a happy medium.