Boil water in medium pot over high heat and salt the water well. Cook pasta as per package direction to al dente.
Heat oil in a large saute pan over medium high heat. Add pancetta and sauté for 5 minutes, stirring often.
Add onions and sauté for 5-10 more minutes stirring often- pancetta should just be starting to brown and the onions should soften. Reduce heat if needed.
Add frozen peas and sauté for another 2-3 minutes, stirring often.
Add chicken broth and simmer for 10-15 minutes, stirring periodically.
Add pasta and ladle in 1-2 ladles of pasta water depending on how much liquid you prefer. Stir in cheese. This will also thicken the mixture slightly.
Cook for 2-3 minutes. Taste for seasoning and add salt and pepper if needed.
Serve immediately with more cheese!
