Heat a dry skillet and fry the pancetta until browned and crisp. Drain and set aside.
Stir in the rice and cook for 2 minutes to toast the grains. Pour in the wine and cook until reduced.
Now pour in ¼ fourth of the stock and stir well. Cook gently until the liquid has been absorbed.
Stir in another ladle of stock. Continue cooking and stirring, gradually adding the stock, until the rice is just tender and the risotto is creamy. It should take a total of 15- 20 minutes.
Make this a vegetarian dish by substituting mushrooms and vegetable broth for the pancetta and chicken broth.