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In a skillet on medium heat, tear the prosciutto into small pieces and add to the pan. Fry the prosciutto until its crispy and browning. Reserve to the side and keep warm.
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In the same skillet, add the mushrooms, shallots, and garlic and sauté for about 5 minutes until browning. Set to the side and keep warm.
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In the skillet, add the rice and keep the heat on low. Toast the rice for about 2 minutes, or until its popping and crackling. Pour in the wine and raise the heat to medium to bring to a low steady simmer. Stir often.
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In a small pot, heat the broth and water and keep it warm throughout cooking the risotto.
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When half of the wine has been absorbed by the risotto, add one ladle full of the broth to the skillet. Stir often until again, half the broth has been absorbed.
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Continue adding one ladle full to the skillet at a time and stirring until either all broth has been used or the risotto is al dente (in between firm and mushy).
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When the risotto has finished cooking, add salt and pepper to taste, and swirl in the 2 tbsp of butter. Add in the peas and mushrooms and warm thoroughly, about 2 minutes.
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Turn off the heat and mix in prosciutto and parmesan. If the rice gets dry or is sticking to the bottom of the pan at any point, add in a tbsp of broth or water at a time.
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Serve immediately.