As part of the procurement process, the procuring organization elected to have an estimate of costs prepared by an outside professional estimator. The estimator came up with an estimate of $500,000.

However, the cost estimates prepared by prospective sellers were in the range of $200,000. How can this be best interpreted?

The procurement statement of work was deficient and ambiguous.

The professional estimator has inflated the estimate of costs.

The prospective sellers do not have the required skills to do the project.

Prospective sellers are trying to underbid and win the project.