What version Premiere Elements and on what computer operating system is it running?
Does the project have disc menus? If so, what menu and how many/what kind Timeline markers? Have you put a stop marker at the end of the last item on the Timeline? If so, remove it. It is not needed there and causes a variety of burn to failures. But, usually there is an error message associated with the stop marker problem. If you go into the disc menu customization area, do you see any red frames buttons suggesting button overlap?
Please go into the Edit area, expand the Timeline with the -+ slider above the Timeline and search for debris scattered in the Timeline track content. Sometimes it presents as very thin vertical black lines scattered in the track content.
In what area of the burn to progress bar are you getting the transcoding error message
Encoding menus 1 of ....
Let us start here and then decide what next.