Place butter and oil in an 8-inch square baking dish; microwave at HIGH 30 seconds. Stir in rice, onion, and garlic. Microwave at HIGH 2 minutes, stirring once. Stir in chicken broth; microwave at HIGH 6 minutes, stirring once. Stir in mushrooms; microwave at HIGH 6 minutes. Stir in chicken, peas, and green onions; microwave at HIGH 1 1/2 minutes. Cover and let stand 5 minutes.
Microwave bacon at HIGH for 2 minutes or until crisp. Crumble and add to risotto. Stir in Parmesan cheese, salt, and pepper.