Heat the oil in a deep frying pan. Add the shallots and cook over a low heat for 3 minutes. Add the rice and stir with a wooden spoon until the grains become translucent and have absorbed most of the oil.
Pour in the wine and stir constantly until it is absorbed. Add sufficient hot stock to just cover the rice, then stir and cook until all the liquid has been absorbed, stirring occasionally. Repeat this process two or three times until there is no stock left.
Meanwhile, gently cook the bacon pieces in a frying pan or under the grill until crispy.
Stir the gorgonzola and crème fraîche or sour cream into the risotto. Season to taste with salt and pepper. Divide among four bowls, scatter with the bacon, then serve.