Fill a bowl with 1 cup of warm water and add dried mushrooms in. Allow them to soak for at least 20 minutes.
In a large skillet on medium heat, drizzle olive oil and saute chopped shallot, fresh mushrooms, garlic, herbs and salt and pepper for about 5 minutes until the mushrooms are just tender and shallot and garlic are caramelized. Remove from heat to a bowl and set aside. Add the dried mushrooms that were soaking and roughly chop them (save the mushroom liquid!)
Remove dried mushrooms from the liquid (save the liquid) and give them a rough chop and add the soaked mushrooms to the fresh mushroom mixture.
In a small pot, bring stock to a simmer to warm it through and add the mushroom liquid, being careful to not pour in the "grit" that settles on the bottom of the bowl. Bring stock to a simmer.
In the same large skillet on medium heat, drizzle with a bit more olive oil and add aborio rice and toss to coat.
Next, pour wine into rice and stir together, reducing the wine and until absorbed. Then, ladle 1-2 spoonfuls of warmed stock into the rice at a time until rice absorbs all the liquid. Continue to do this for about 20-25 minutes. (*Note: At this point stay close to the stove, constantly stirring the rice). Season with salt and pepper.
Towards the end, taste for doneness of the rice and seasoning, should not be too hard or too mushy. Once done, stir in the mushroom mixture, add the butter and 1 more ladleful of stock. Turn off the heat and cover allowing everything to blend together.
Once everything is done, grate fresh Parmesan cheese and stir gently. Garnish with fresh herbs and serve.