Cook bacon in a large nonstick skillet over medium heat until crisp. Remove bacon from pan; crumble. Add 1 teaspoon butter and mushrooms to drippings in pan; sauté 5 minutes. Sprinkle with 1/4 teaspoon salt. Stir in chicken and 4 tablespoons parsley. Set aside.
Melt the remaining 3 teaspoons butter in a large saucepan over medium heat. Add shallots; cook 3 minutes. Add rice; cook 1 minute, stirring constantly. Stir in wine; cook 5 minutes or until liquid is nearly absorbed, stirring constantly. Add broth, 1/2 cup at a time, stirring constantly until each portion of broth is absorbed before adding the next (about 35 minutes total). Remove from heat. Stir in mushroom mixture, cheese, remaining 1/4 teaspoon salt, and pepper. Sprinkle with bacon and the remaining 2 tablespoons parsley.