Add olive oil to medium sized cast iron pan, turn to medium heat and cook pancetta until fat is rendered out and crisped; about 10 to 12 minutes.
Remove pancetta from pan, and sauté shallots and garlic until slightly caramelized; about 15 seconds, then add pinch crushed red pepper, and sauté spinach until wilted; about 30 seconds.
Add chicken stock and white wine, bring to a boil, then simmer until reduced by a third.
Add heavy cream and bring to a boil, then radium to medium high heat, and reduce for 2 minutes.
Add cooked orzo, pancetta and simmer until slightly thickened. Add parmesan and season to taste with salt and pepper; fold in chopped parsley. ** Optional add a little bit of pasta water at a time to thicken sauce.