Heat olive oil over medium-high heat in a large wide skillet or a large saucepan and add pancetta or prosciutto (if using). Cook until browned and crispy, flipping once. Remove from pan and drain on paper towel. Set aside.

Heat broth in a medium saucepan on a burner adjacent to the skillet the risotto will be made in.

Immediately add mushrooms to the pan and toss in oil. Very lightly season with salt and pepper. Allow mushrooms to cook undisturbed for 3-4 minutes per side (flip once juice have evaporated and mushrooms brown on bottom side).

Add garlic and allow to cook for 1-2 minutes until fragrant.

Add rice to pan and wine. Stir to combine flavours and cook until wine has been absorbed but the rice. Add thyme.

Add broth by 2-3 ladlefuls, stirring to fully combine and adding more broth as the rice becomes dry and broth is absorbed.

Before the last 2-3 ladlefuls of broth is added, add asparagus to the skillet

Add last 2-3 ladlefuls of broth and stir to combine.

Taste. If needed very lightly season with pepper (and salt although I find it almost never needs it with the pancetta or prosciutto). Drizzle with optional truffle oil if desired.