1. A system for facilitating context understanding for developing a software solution for a project, the system comprising: a processor; an input/output interface coupled to the processor, wherein the I/O interface is configured to receive a plurality of parameters associated with the project; and a memory coupled to the processor and to the I/O interface, the memory comprising: a cybernetics module configured to generate a cybernetics influence diagram (CID) using the plurality of parameters, wherein the CID is indicative of a relationship of at least one parameter of the plurality of parameters with at least another parameter of the plurality of parameters; and identify at least one parameter from amongst the plurality of parameters as a key thrust area (KTA) based upon threshold rules, wherein the threshold rules are based upon the relationship of the parameters with one another; and a framework generating module configured to receive a set of stakeholder objectives from a user, wherein the set of stakeholder objectives is associated with the project; and a matrix generating module configured to generate a traceability matrix template to map the KTAs against the set of stakeholder objectives.