Place saffron in small bowl and pour 2 tablespoons warm stock over it. Set aside.

In separate high-sided sauce pan or Dutch oven, melt 2 tablespoons butter with olive oil over medium heat. Add shallot and cook 2 to 3 minutes or until soft, stirring frequently.

Stir in rice and cook 1 minute or until grains start to become translucent. Add wine and cook, stirring constantly, until fully absorbed.

Add warm stock 1/2 cup at a time, stirring frequently (but constantly isn’t necessary) and allowing each addition to absorb before adding the next.

When halfway through adding stock, stir in saffron and its soaking liquid.

Continue adding stock and stirring for 18 to 20 minutes total or until rice is creamy and al dente (you may not need all of the stock).

Remove from heat and stir in Parmesan, salt, pepper and remaining 1 tablespoon butter. The consistency of the risotto at this point should err on the thin and soupy side. Stir in more stock if necessary. When you ladle the risotto into a bowl, it should spread out on the bottom of the bowl, not form a thick pile. Remember that it will thicken even more as soon as it sits in the bowl!

To serve, spoon risotto into warm shallow bowls. Top with shards of crispy prosciutto, Parmesan crisps, and extra black pepper, if desired.