Simple summing of multiple "like" categories

Hi there. I'm sure I'm not the first person to want to do this, but I am having trouble wording a query in qoogle or on this forum to find the answer to this question...

Say i was using a spreadsheet to track a number of projects and their phases:

PROJECT.........................PHASE
project one.....................initiation
project two.....................planning
project three..................initiation
project four....................execution
project five....................execution

i want to have a formula at the bottom that sums the "phase" column like so:

Initiation.....2
Planning.....1
Execution....2

How would i accomplish this? (not including the dots)

Thanks,
Caltrop