1. Heat oil in a large nonstick skillet over medium-high heat. Add asparagus and next 4 ingredients; sauté 10 minutes or until vegetables are crisp-tender. Set aside; keep warm.

2. Bring water and broth to a simmer in a medium saucepan (do not boil). Keep warm over low heat.

3. Melt butter in a large Dutch oven over medium heat. Add leek; cook 4 minutes or until tender, stirring frequently. Add rice; cook 2 minutes, stirring constantly. Stir in 1 1/2 cups broth mixture; cook 4 minutes or until liquid is nearly absorbed, stirring constantly. Add remaining broth mixture, 1/2 cup at a time, stirring constantly until each portion of broth is absorbed before adding the next (about 20 minutes total). Stir in 1/4 cup cheese and thyme.

4. Top risotto with vegetables; sprinkle with remaining 1/4 cup cheese.