Warm your chicken stock in a large saucepan, keeping it hot but not boiling.
In another large pot, heat olive oil over medium heat. Add chopped shallots and sliced mushrooms, cooking them until they're soft and have released their moisture, about 5-7 minutes.
Stir in minced garlic and butter, sautéing until fragrant for 2-3 minutes.
Add a cup of Arborio rice to the pot. Cook the rice for a few minutes until it's well-coated in oil and looks slightly translucent around the edges.
Season with salt and pepper, then pour in the white wine, stirring gently until mostly absorbed.
Gradually add chicken broth, one ladle at a time, stirring frequently. Allow each addition to be mostly absorbed before adding more. This should take about 18-20 minutes, resulting in creamy but al dente rice.
Once cooked to your liking, remove from heat and stir in grated Parmesan cheese to taste. Garnish with extra Parmesan and fresh parsley.
Serve the risotto immediately for the best texture and flavor.