When bakers talk about tolerance chances are good they mean how long a fully risen dough can wait to be baked without losing final loaf quality.
There are a lot of variables in tolerance. More highly hydrated doughs have less tolerance than firmer doughs. Wheat breads can have as long as an hour's tolerance. Rye breads, as little as 6 minutes.
This has a large impact on scheduling. If your oven can handle 6 loaves at a time and your loaves bake for 45 minutes, you can make a 12 loaf batch of dough. While the first 6 are being baked, the second 6 are sitting there and you are appreciating their tolerance. Once the first batch is done baking, the second batch goes into the oven.