Situational awareness is not just about navigation.
Nor is it just about a traffic picture.
Nor is it just about weather.
It is about all those, and much more, including (but not limited to) the aircraft type and condition, and its abilities.
The pilots' condition and abilities on the day, in the aircraft concerned.
The airspace and terrain along and nearby the proposed flight area.
And even the state of mind/emotions of the other occupants of the aircraft.
With experience comes a sort of "what if?" thinking, which forms a background - but not obsessive - notional thinking that strongly suggests to the pilot (or controller, in my own case) that a plan "b" should be readily to hand for any given situation that is likely, or reasonably possible. For the likely ones, you should be able to cobble together a workable plan "c" at short notice, too. Which requires a certain awareness or perception about things that might not be so evident.