Projects aren't implemented in a vacuum.
They are implemented within legal/ contractual frameworks and subject to constraints on human/ technical resources etc. The timely identification of important issues, so that they can be taken into account, enables the project manager to ensure the project's success. What kind of an environment  is your project being implemented in? What do you have to pay attention to in the following areas? I perform the PESTLE-analysis!
Political - political framework
Which "powerhouses" do you have to take into consideration? Are there conflicts of interests?
Economic - economic framework
Are there economic constraints? Important economic interests? Competitors? Do seasonal or cyclical fluctuations have to be taken into account?
Sociology - sociological framework
Is the project subject to ethical or moral constraints? Do you have to take the sentiments or emotions of people affected by the project into account?
Technology - technological framework
Do technical innovations have to be integrated in the project? Are the technologies tried and tested? Do you have to consider trade mark rights or licenses?
Legal - legal framework
What is the legal framework? Which laws and regulations apply to your project?
Environment - ecological framework
Will your project pollute the environment? Do you have to consider environmental regulations or restrictions?
Do you need professional assistance in any of these areas? How can you deal with constraints? Are there aspects that make it impossible to implement your project? If so, how can you verify the problems and how can you terminate the project?
The prompt termination of a project that is impossible to implement makes sense!