First, prepare all your ingredients and set them close to the stove.
In a large saute pan or dutch oven, heat the butter over medium heat.
Add shallots and mushrooms and saute until softened, about 4 minutes.
Pour rice over onions and stir until all the rice is coated with butter. Add more butter, if needed. Stir until the rice is translucent, but avoid browning the rice.
Add the white wine, scraping up any brown bits stuck to the pan. Cook the wine into the rice for about 4-5 minutes, until the wine is mostly absorbed into the rice.
Begin adding the broth .5-1 cup at a time, stirring with each addition until almost completely absorbed.
Continue with all broth. Don't rush! Let the rice absorb the broth with each addition.
Your rice is done when all the liquid has been absorbed and when you push the rice with your spatula it makes a path in the pan and does not flood back into the pan.
Test the doneness with a small bite; risotto should be a little softer than al dente but still give you a bite.
Add the cup of parmesan cheese, stir to combine.
Plate and serve hot with parsley and lemon if desired.