Spencer Fox outlines several practical and theoretical problems that may arise during the production of a music video project. Practical problems include acquiring cast and crew, booking equipment, shooting with a Canon C100 camera, travelling to locations, color grading footage, recording audio, and managing storage and battery life. Theoretical problems could involve issues with cast availability, unsuitable weather or locations, equipment failure, budget constraints, and health and safety concerns. Fox discusses potential solutions such as contingency planning, equipment backups, efficient scheduling, and evaluating location risks.