01 - Heat a large skillet or saucepan over medium heat and melt the butter with olive oil.
02 - Add onions and sauté for 3 to 4 minutes until soft and translucent.
03 - Stir in minced garlic and sliced mushrooms; cook for 5 to 6 minutes until mushrooms are golden and most liquids evaporate.
04 - Add rice to the pan and cook, stirring, for 1 to 2 minutes to coat grains well.
05 - Pour in 2 cups of warm vegetable broth. Stir, bring to a simmer, and cook, stirring occasionally, until almost all liquid is absorbed.
06 - Gradually incorporate the remaining broth and milk or cream, about 1/2 cup at a time, letting the rice absorb most liquid before each addition. Stir frequently.
07 - When the rice is creamy and tender, stir in grated Parmesan, thyme, parsley, salt, and pepper. Mix well.
08 - Taste and adjust seasoning as needed. Serve hot, garnished with extra parsley and Parmesan if desired.