Using a medium-sized saucepan over medium-high heat, bring the stock to a boil.
Adjust the heat to low and continue simmering.
While waiting for the stock to boil, place a medium to a large skillet over medium-high heat.
Add the pancetta into the skillet --- no need to wait for it to warm up.
Cook until the pancetta turns brown and turn slightly crispy on the edges.
Remove the browned pancetta and set it aside.
Using the same pan, add the olive oil.
Once the oil is ready, add the chopped onion.
Cook the onion until it softens, then add the rice.
Cook the rice for about 1 to 2 minutes, constantly mixing, to ensure the grains are coated with oil.
Pour the white wine and let it evaporate.
When there's very little liquid left, pour two ladles of the simmering stock into the rice.
Continue stirring until the stock has been fully absorbed.
Pour another ladle of stock and keep repeating for 8 minutes.
Add the peas.
Mix to combine and continue adding the stock for 10 more minutes.
Taste and adjust the seasoning of your pancetta risotto.
Take the pan off the heat.
Add butter, grated cheese, and the browned pancetta from earlier.
Mix to combine, place a lid, and keep it covered for about 1 to 2 minutes.
Transfer your pea and pancetta risotto into plates.
Serve, with more grated parmigiano Reggiano, if preferred.