Injection molding is the main way to produce plastic parts. It's most effective for complex parts in medium to high volume. While the upfront cost is usually in the $4,000 - $20,000 per component. The part cost is extrememly low, around $1-5.
More Info: http://en.wikipedia.org/wiki/Injection_molding
Design Guide: http://www.plastics1.com/CIM/DesignGuide.php
Machining offers low set up cost and a quick turn around for metal parts and some precision plastic components. The modern systems use computer controlled CNC machines that build the part automatically from the 3D CAD file.
More info: http://en.wikipedia.org/wiki/Milling_machine
Machining Design Guide: http://en.wikipedia.org/wiki/ Design_for_Manufacturability_for_CNC_machining
Metal and Urethane Enclosures that need to be strong