This is the 7112th most frequent Spanish word.
falta
"Lack," "absence," or "fault."
In this sentence, 'falta' is used to express the lack or need of something (time).
Me hace falta tiempo para terminar este proyecto.
I need more time to finish this project.
Here, 'falta' is a noun referring to a deficiency or lack (of communication).
La falta de comunicación puede causar malentendidos.
The lack of communication can cause misunderstandings.
In this case, 'falta' functions as a verb expressing the absence or non-attendance of someone (from the meeting).