Project size is probably not related to the kind of performance issues you report.
Answers to these questions will help troubleshoot:
- What version of Premiere Pro do you have?
- Are you on Mac or Windows?
- What are your system specifications, including the make, model, & driver of graphics card?
- What types of content are you working with (source, codec, resolution...)?
- Where is it stored (internal? external? network?)
- How many audio and video tracks in the sequence? What types of video tracks (Stereo, Mono, Multichannel, or Adaptive)
- What effect and transitions are in use?
- Is the bar above the timeline yellow or red?
Please include this information with every question you post.