Hello Michael,
You would make this change by selecting Menu from the remote, scroll to the right until you get to the Settings icon (has a little screwdriver and wrench). Scroll down until you get to Power Management > press the Select button and use the < > ensure that it is set to Ready and adjust the time from there.
We do not recommend leaving the projector in this status very often because the projector fans are constantly in-taking air and dust and could lessen the lamp life as well. (case# 324190)
Thanks!