Tool condition monitoring (TCM) systems can improve productivity and ensure workpiece quality, yet, there is a lack of reliable TCM solutions for small-batch or one-off manufacturing of industrial parts. TCM methods which include the characteristics of the cut seem to be particularly suitable for these demanding applications. In the first section of this paper, three process-based indicators have been retrieved from literature dealing with TCM. They are analysed using a cutting force model and experiments are carried out in industrial conditions. Specific transient cuttings encountered during the machining of the test part reveal the indicators to be unreliable. Consequently, in the second section, a versatile in-process monitoring method is suggested. Based on experiments carried out under a range of different cutting conditions, an adequate indicator is proposed: the relative radial eccentricity of the cutters is estimated at each instant and characterizes the tool state. It is then compared with the previous tool state in order to detect cutter breakage or chipping. Lastly, the new approach is shown to be reliable when implemented during the machining of the test part.