In a separate pot saute the prosciutto and shallots in 3 Tbs (45 ml) of the butter and all of the oil.
Add the rice as soon as the shallots become translucent and stir until the rice is well coated with the fat.
Add about 1/2 cup (125 ml) of the broth and stir frequently until most of the broth has been absorbed.
Continue adding the broth 1/2 cup (125 ml) at a time, stirring frequently, for 15 minutes.
Add the saffron and continue adding broth as it becomes absorbed, cooking an additional 5 minutes, or until the rice is cooked "al dente," still firm to the tooth.
Stir in the remaining 2 Tbs (30 ml) butter and the Parmesan cheese, and serve immediately
Notes
A classic Italian recipe, always a dinner surprise but always an impressive meal.