In a medium saucepan, bring the broth to a simmer. Cover the broth and keep warm over low heat.
In a large heavy saucepan, melt the butter over medium heat. Add the pancetta and sausage and saute until golden brown, about 5 minutes. Add the onion, bell pepper, and mushrooms and saute until tender, scraping up the browned bits on the bottom of the pan, about 8 minutes. Season with salt and pepper. Add the rice and stir to coat. Add the wine and simmer until the wine has almost completely evaporated, about 1 minute. Add 1/2 cup of simmering broth and stir until almost completely absorbed, about 2 minutes. Continue cooking the rice, adding the broth 1/2 cup at a time, stirring constantly and allowing each addition of broth to absorb before adding the next, until the rice is tender but still firm to the bite and the mixture is creamy, about 25 to 30 minutes total. Remove from the heat. Stir in 3/4 of the Parmesan. Transfer the risotto to a serving bowl. Sprinkle with the parsley and remaining Parmesan and serve immediately.