Finely chop the onion and garlic.
Cut the bacon and shrimp into bite-sized pieces.
Heat olive oil in a pan and sauté the onion and garlic.
Add the bacon and shrimp, and cook until done.
Add the rice and stir-fry for about 1 minute.
Add water or broth little by little, stirring continuously until the rice is cooked.
Add heavy cream, red pepper powder, and Parmesan cheese, and mix well.
Season with salt and pepper to finish.