Warm the stock in a saucepan and keep on a low heat.
In a medium sized saucepan dry fry the pancetta over a medium heat until browned and starting to crisp, remove and place to the side.
Add the butter to the pan and fry the onion for about 5 minutes then add the mushrooms and thyme cooking for a further minute.
Add the rice and fry the rice for about a minute and you will see the rice will start to look a little translucent. Now add the wine and cook until most of the wine has been absorbed by the rice, stirring all the time.
Start adding the stock one ladle at a time, stirring continuously until the liquid has been absorbed before adding the next ladle of stock. Keep about a ladles worth of stock behind.
Add the peas, pancetta, the last of the stock and stir until the stock has been absorbed. You will notice the rice will be soft with a slight bite (al dente), creamy and velvety.
Add the parmesan, parsley and chives and season with salt and pepper.
Serve in your favourite bowl with a garnish of chopped parsley and parmesan.