Heat up stock in a large pot, then keep warm on low heat while you make the risotto.
Heat a large skillet over medium heat; add mushrooms and sauté until beginning to brown.
Add butter or olive oil and shallots; cook, stirring, for 5 minutes.
Add rice and stir to coat with fat. Add a pinch of salt & pepper, followed by the wine. Cook and stir gently until liquid bubbles away.
Begin adding warm stock to rice 1/2 cup or so at a time, stirring after each addition and about every minute. When the stock is just about evaporated, add more and stir again. The final mixture should be neither too soup nor dry.
After about 30 minutes, begin tasting rice for doneness; ideally the rice is tender but a bit al dente. When the rice is ready, add salt to taste and mix in any fresh herbs you desire. Top with parmesan. Serve hot.