Views: hierarchical view

Can someone tell me and hopefully explain to me how to do this:

I have a custom content type. Lets say with 3 fields:
- Company,
- Department
- project

A company can have more than one departments and each department can have multiple projects.

Now i want to create a view to be displayed like this:

Company A
   - Department a
        - project a
        - project e
        - project g
   - Department b
        - project c
        - project f
Company B
   - Department z
        - project j
Company C
   - Department x
         - project b
   - Department y
        - project h
        - project i
        - project d
        - project g

etcetera...

Is this posible?

Thanks in advance!
Jim