Depends on where you're getting your Outlook mail. If you've simply told outlook to watch a normal email account like Windows Live (POP3 protocol), you just open the app called Mail and choose "Other (POP3/IMAP)" and enter email address and password.
If your emails are coming from an Exchange server, such as a company mail server, you choose Exchange ActiveSync and enter your username and password (that you use to logon to the mail normally), domain name and server address.
That's really all there is to it. Exchange needs a bit more information, but it'll also make sure that any new emails are in your phone as soon as they arrive in your inbox. POP3 can only be set to check with the server every x minutes.